Point72 Asset Management L.P. Takes Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Point72 Asset Management L.P. acquired a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,600 shares of the company’s stock, valued at approximately $581,000.

Several other large investors also recently made changes to their positions in the stock. ProShare Advisors LLC boosted its holdings in shares of Rush Enterprises by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 18,365 shares of the company’s stock valued at $1,006,000 after buying an additional 5,652 shares during the last quarter. Millennium Management LLC raised its stake in Rush Enterprises by 116.5% in the 4th quarter. Millennium Management LLC now owns 299,038 shares of the company’s stock valued at $16,384,000 after acquiring an additional 160,922 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Rush Enterprises by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,633 shares of the company’s stock valued at $1,898,000 after acquiring an additional 1,338 shares during the period. Janus Henderson Group PLC raised its stake in Rush Enterprises by 6.8% in the 4th quarter. Janus Henderson Group PLC now owns 329,027 shares of the company’s stock valued at $18,028,000 after acquiring an additional 20,823 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in Rush Enterprises in the 4th quarter valued at $241,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Stock Down 0.6%

RUSHA opened at $49.59 on Friday. Rush Enterprises, Inc. has a 1-year low of $40.99 and a 1-year high of $65.43. The stock’s fifty day simple moving average is $51.78 and its 200 day simple moving average is $56.32. The company has a current ratio of 1.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.86 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.86 billion. As a group, research analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, May 12th. Rush Enterprises’s payout ratio is 20.11%.

Insiders Place Their Bets

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $52.10, for a total transaction of $234,450.00. Following the transaction, the senior vice president now owns 12,510 shares in the company, valued at $651,771. This trade represents a 26.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jason Wilder sold 483 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $56.39, for a total value of $27,236.37. Following the transaction, the chief operating officer now owns 85,420 shares in the company, valued at $4,816,833.80. The trade was a 0.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,981 shares of company stock worth $938,472 in the last 90 days. Company insiders own 12.28% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens dropped their price target on Rush Enterprises from $63.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd.

Rush Enterprises Company Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.