Millennium Management LLC Boosts Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Millennium Management LLC boosted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 116.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 299,038 shares of the company’s stock after buying an additional 160,922 shares during the period. Millennium Management LLC’s holdings in Rush Enterprises were worth $16,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RUSHA. Jennison Associates LLC grew its position in Rush Enterprises by 1,398.4% in the 4th quarter. Jennison Associates LLC now owns 509,380 shares of the company’s stock valued at $27,909,000 after buying an additional 475,384 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Rush Enterprises by 5,379.0% during the 4th quarter. Proficio Capital Partners LLC now owns 334,822 shares of the company’s stock worth $18,345,000 after purchasing an additional 328,711 shares in the last quarter. Norges Bank purchased a new stake in shares of Rush Enterprises during the 4th quarter worth $10,127,000. Raymond James Financial Inc. purchased a new stake in shares of Rush Enterprises during the 4th quarter worth $9,822,000. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Rush Enterprises by 35.0% during the 4th quarter. Segall Bryant & Hamill LLC now owns 468,855 shares of the company’s stock worth $25,689,000 after purchasing an additional 121,577 shares in the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $49.87 on Thursday. The firm has a market capitalization of $3.88 billion, a P/E ratio of 13.37, a PEG ratio of 1.04 and a beta of 0.94. Rush Enterprises, Inc. has a one year low of $40.99 and a one year high of $65.43. The company’s fifty day moving average is $51.87 and its two-hundred day moving average is $56.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a net margin of 3.90% and a return on equity of 14.76%. Analysts forecast that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is presently 20.11%.

Insider Transactions at Rush Enterprises

In other news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $56.43, for a total transaction of $634,837.50. Following the completion of the transaction, the senior vice president now owns 3,117 shares of the company’s stock, valued at $175,892.31. The trade was a 78.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jason Wilder sold 748 shares of Rush Enterprises stock in a transaction on Monday, May 19th. The stock was sold at an average price of $56.08, for a total value of $41,947.84. Following the transaction, the chief operating officer now directly owns 84,672 shares of the company’s stock, valued at $4,748,405.76. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,981 shares of company stock valued at $938,472 in the last 90 days. 12.28% of the stock is currently owned by insiders.

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.