4,046 Shares in Rush Enterprises, Inc. (NASDAQ:RUSHA) Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc purchased a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,046 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in shares of Rush Enterprises during the third quarter worth about $421,000. Costello Asset Management INC bought a new position in shares of Rush Enterprises in the 3rd quarter worth $58,000. Essex Savings Bank bought a new position in shares of Rush Enterprises in the 3rd quarter worth $214,000. Verdence Capital Advisors LLC raised its position in shares of Rush Enterprises by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,785 shares of the company’s stock valued at $411,000 after buying an additional 370 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Rush Enterprises by 3.7% during the 3rd quarter. QRG Capital Management Inc. now owns 13,564 shares of the company’s stock worth $717,000 after acquiring an additional 484 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $60.00 on Friday. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.23 and a beta of 0.99. The business has a 50 day moving average of $55.11 and a 200 day moving average of $49.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. Rush Enterprises, Inc. has a 1-year low of $38.43 and a 1-year high of $65.15.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. On average, sell-side analysts predict that Rush Enterprises, Inc. will post 3.45 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is presently 19.10%.

Analyst Upgrades and Downgrades

Separately, Stephens increased their target price on Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, November 1st.

Insider Buying and Selling at Rush Enterprises

In other news, CEO William M. Rusty Rush sold 117,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total value of $7,517,650.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. This trade represents a 40.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven L. Keller sold 43,875 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total transaction of $2,793,960.00. Following the transaction, the chief financial officer now owns 83,365 shares in the company, valued at $5,308,683.20. This represents a 34.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,000 shares of company stock worth $11,167,173. 12.53% of the stock is currently owned by company insiders.

About Rush Enterprises

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.