Panagora Asset Management Inc. purchased a new stake in Vivint Solar Inc (NYSE:VSLR) during the second quarter, Holdings Channel reports. The fund purchased 41,203 shares of the company’s stock, valued at approximately $301,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Delek Group Ltd. raised its stake in shares of Vivint Solar by 86.9% in the 2nd quarter. Delek Group Ltd. now owns 1,408,229 shares of the company’s stock valued at $10,043,000 after acquiring an additional 654,896 shares during the period. Alps Advisors Inc. raised its stake in shares of Vivint Solar by 108.1% in the 2nd quarter. Alps Advisors Inc. now owns 68,339 shares of the company’s stock valued at $499,000 after acquiring an additional 35,495 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Vivint Solar by 169.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 517,839 shares of the company’s stock valued at $3,780,000 after acquiring an additional 325,507 shares during the period. Swiss National Bank raised its stake in shares of Vivint Solar by 23.5% in the 2nd quarter. Swiss National Bank now owns 77,700 shares of the company’s stock valued at $567,000 after acquiring an additional 14,800 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Vivint Solar by 28.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 36,057 shares of the company’s stock valued at $263,000 after acquiring an additional 7,981 shares during the period. 91.45% of the stock is currently owned by institutional investors and hedge funds.
In other Vivint Solar news, CEO David Bywater sold 19,920 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $7.95, for a total value of $158,364.00. Following the sale, the chief executive officer now directly owns 1,098,432 shares of the company’s stock, valued at approximately $8,732,534.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd R. Pedersen sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $6.97, for a total transaction of $697,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 422,544 shares of company stock worth $3,220,147. 4.10% of the stock is owned by insiders.
VSLR traded up $0.13 during trading hours on Friday, hitting $7.52. 374,517 shares of the company’s stock were exchanged, compared to its average volume of 1,241,884. Vivint Solar Inc has a 12-month low of $3.55 and a 12-month high of $9.82. The firm has a 50 day moving average of $8.02 and a 200 day moving average of $6.70. The firm has a market cap of $865.93 million, a P/E ratio of -3.16 and a beta of 0.37. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 3.70.
Vivint Solar (NYSE:VSLR) last announced its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.17). Vivint Solar had a negative return on equity of 97.07% and a negative net margin of 25.06%. The business had revenue of $90.80 million for the quarter, compared to analysts’ expectations of $91.92 million. During the same period in the previous year, the company earned ($0.50) earnings per share. Vivint Solar’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts expect that Vivint Solar Inc will post -2.66 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Vivint Solar from $12.50 to $14.00 and gave the company a “buy” rating in a research note on Friday, August 9th. KeyCorp initiated coverage on shares of Vivint Solar in a research note on Monday, August 19th. They set an “overweight” rating and a $12.00 target price on the stock. Finally, Oppenheimer set a $11.00 target price on shares of Vivint Solar and gave the stock a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $11.25.
Vivint Solar Profile
Vivint Solar, Inc provides distributed solar energy primarily to residential customers in the United States. It owns and installs solar energy systems through long-term customer contracts. The company also sells photovoltaic installation products, as well as solar renewable energy certificates. As of December 31, 2018, it had an aggregate capacity of 1,060.9 megawatts covering approximately 154,600 homes.
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