RWC Asset Management LLP Takes $7.49 Million Position in Sunrun Inc. $RUN

RWC Asset Management LLP acquired a new stake in shares of Sunrun Inc. (NASDAQ:RUN) during the third quarter, Holdings Channel reports. The firm acquired 433,444 shares of the energy company’s stock, valued at approximately $7,494,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RUN. PGGM Investments raised its stake in shares of Sunrun by 316.6% during the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock worth $57,319,000 after purchasing an additional 5,325,332 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its stake in Sunrun by 95.6% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock valued at $66,525,000 after purchasing an additional 3,974,464 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Sunrun during the 2nd quarter valued at $9,668,000. HRT Financial LP bought a new stake in shares of Sunrun in the second quarter valued at about $9,416,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Sunrun by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after purchasing an additional 718,955 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on RUN. JPMorgan Chase & Co. boosted their price target on Sunrun from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. UBS Group lifted their price objective on Sunrun from $16.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sunrun in a report on Wednesday, December 17th. Raymond James Financial assumed coverage on Sunrun in a research note on Monday. They issued a “market perform” rating on the stock. Finally, Susquehanna lifted their price objective on Sunrun from $13.00 to $23.00 and gave the stock a “positive” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average target price of $19.70.

Sunrun Price Performance

Shares of RUN stock opened at $18.90 on Tuesday. Sunrun Inc. has a 12-month low of $5.38 and a 12-month high of $22.44. The firm has a fifty day moving average of $18.69 and a 200-day moving average of $16.28. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -1.69 and a beta of 2.35. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 3.67.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.The business had revenue of $724.56 million for the quarter, compared to analysts’ expectations of $601.15 million. During the same quarter in the previous year, the business posted ($0.37) EPS. Sunrun’s revenue for the quarter was up 34.9% on a year-over-year basis. On average, equities research analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Activity at Sunrun

In related news, CFO Danny Abajian sold 7,190 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total transaction of $127,982.00. Following the sale, the chief financial officer directly owned 405,518 shares in the company, valued at $7,218,220.40. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Paul S. Dickson sold 6,119 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total transaction of $108,918.20. Following the completion of the transaction, the executive directly owned 639,110 shares of the company’s stock, valued at approximately $11,376,158. The trade was a 0.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 359,431 shares of company stock valued at $6,822,984 over the last three months. Insiders own 3.37% of the company’s stock.

Sunrun Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.