Bridgeway Capital Management Inc. Sells 36,000 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Bridgeway Capital Management Inc. lessened its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 19.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 146,300 shares of the company’s stock after selling 36,000 shares during the period. Bridgeway Capital Management Inc. owned 0.40% of Rush Enterprises worth $6,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strs Ohio grew its holdings in Rush Enterprises by 1.6% in the 2nd quarter. Strs Ohio now owns 18,600 shares of the company’s stock valued at $771,000 after buying an additional 300 shares in the last quarter. Globeflex Capital L P grew its holdings in Rush Enterprises by 13.2% in the 1st quarter. Globeflex Capital L P now owns 17,237 shares of the company’s stock valued at $550,000 after buying an additional 2,005 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Rush Enterprises by 22.0% in the 1st quarter. Wells Fargo & Company MN now owns 76,100 shares of the company’s stock valued at $2,430,000 after buying an additional 13,735 shares in the last quarter. State Street Corp grew its holdings in shares of Rush Enterprises by 2.8% during the 1st quarter. State Street Corp now owns 643,742 shares of the company’s stock worth $20,548,000 after purchasing an additional 17,837 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in shares of Rush Enterprises by 15.2% during the 1st quarter. Aperio Group LLC now owns 10,636 shares of the company’s stock worth $340,000 after purchasing an additional 1,401 shares in the last quarter. 74.88% of the stock is currently owned by hedge funds and other institutional investors.

In other Rush Enterprises news, CEO William M. Rusty Rush sold 41,500 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $49.03, for a total value of $2,034,745.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Mcroberts sold 3,500 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $48.28, for a total value of $168,980.00. The disclosure for this sale can be found here. Insiders sold 180,334 shares of company stock valued at $8,773,660 over the last quarter. Corporate insiders own 12.49% of the company’s stock.

NASDAQ:RUSHA traded up $0.80 during trading hours on Wednesday, hitting $50.29. The company’s stock had a trading volume of 2,481 shares, compared to its average volume of 190,058. The stock has a fifty day simple moving average of $49.25 and a 200-day simple moving average of $40.77. The company has a market capitalization of $1.80 billion, a P/E ratio of 17.87, a PEG ratio of 1.65 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.20 and a quick ratio of 0.34. Rush Enterprises, Inc. has a twelve month low of $27.25 and a twelve month high of $51.23.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.52. The business had revenue of $1 billion for the quarter. Rush Enterprises had a return on equity of 8.84% and a net margin of 1.97%. On average, equities analysts predict that Rush Enterprises, Inc. will post 1.98 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 7th were given a $0.14 dividend. The ex-dividend date was Thursday, August 6th. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.11%. Rush Enterprises’s dividend payout ratio (DPR) is currently 14.85%.

Several analysts have recently issued reports on RUSHA shares. BMO Capital Markets increased their target price on Rush Enterprises from $35.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. BidaskClub raised Rush Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 9th. Zacks Investment Research raised Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a report on Saturday, July 25th. TheStreet raised Rush Enterprises from a “c+” rating to a “b-” rating in a report on Tuesday, June 16th. Finally, Credit Suisse Group initiated coverage on Rush Enterprises in a research note on Friday, July 24th. They issued a “hold” rating and a $46.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rush Enterprises has an average rating of “Hold” and an average target price of $49.80.

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. 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, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.

Further Reading: Quantitative Easing

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Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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