Skandinaviska Enskilda Banken AB publ Sells 9,950 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Posted by on Feb 24th, 2023

Skandinaviska Enskilda Banken AB publ cut its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA – Get Rating) by 39.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,300 shares of the company’s stock after selling 9,950 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Rush Enterprises were worth $671,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in shares of Rush Enterprises during the 2nd quarter valued at approximately $30,000. Assetmark Inc. grew its holdings in shares of Rush Enterprises by 154.8% during the second quarter. Assetmark Inc. now owns 920 shares of the company’s stock worth $44,000 after buying an additional 559 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Rush Enterprises by 3,818.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,155 shares of the company’s stock valued at $94,000 after acquiring an additional 2,100 shares during the last quarter. FNY Investment Advisers LLC boosted its position in shares of Rush Enterprises by 448.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 2,579 shares of the company’s stock valued at $113,000 after acquiring an additional 2,109 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its position in shares of Rush Enterprises by 55.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,207 shares of the company’s stock valued at $164,000 after acquiring an additional 1,150 shares during the last quarter. 76.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Steven L. Keller sold 15,000 shares of Rush Enterprises stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $54.00, for a total transaction of $810,000.00. Following the completion of the sale, the chief financial officer now owns 54,660 shares in the company, valued at approximately $2,951,640. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Michael Mcroberts sold 9,000 shares of Rush Enterprises stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $61.34, for a total value of $552,060.00. Following the transaction, the chief operating officer now directly owns 9,701 shares of the company’s stock, valued at approximately $595,059.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven L. Keller sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $54.00, for a total value of $810,000.00. Following the transaction, the chief financial officer now directly owns 54,660 shares in the company, valued at $2,951,640. The disclosure for this sale can be found here. Insiders sold a total of 29,365 shares of company stock worth $1,692,008 over the last 90 days. 12.21% of the stock is currently owned by corporate insiders.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $57.16 on Friday. Rush Enterprises, Inc. has a 1-year low of $42.72 and a 1-year high of $62.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.27 and a quick ratio of 0.32. The stock has a fifty day moving average price of $53.58 and a 200 day moving average price of $50.42. The company has a market cap of $3.11 billion, a PE ratio of 8.34, a P/E/G ratio of 0.73 and a beta of 1.02.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Monday, February 27th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Friday, February 24th. Rush Enterprises’s dividend payout ratio is currently 12.26%.

Analyst Ratings Changes

Separately, Stephens reiterated an “overweight” rating and set a $64.00 price target on shares of Rush Enterprises in a research note on Thursday, February 16th.

Rush Enterprises Profile

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Rush Enterprises, Inc engages in the provision of commercial vehicle industry solutions through its network of commercial vehicle dealerships The firm provides an integrated, one-stop approach to the service and sales of new and used heavy- and medium-duty trucks, aftermarket parts, service, collision center capabilities, chrome accessories, tires, engineered vehicle modification solutions, and a range of financial services including financing, insurance and leasing, and rental options.

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

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