Russell Investments Group Ltd. buys 273,965 shares of Sunrun Inc. (NASDAQ: RUN)

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Russell Investments Group Ltd. increased its stake in Sunrun Inc. (NASDAQ: RUN – Get Rating) by 489.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The company held 329,890 shares of the energy company after acquiring an additional 273,965 shares during the period. Russell Investments Group Ltd. held approximately 0.16% of Sunrun worth $10,022,000 when last filed with the SEC.

Other big investors have also been buying and selling shares of the company recently. CWM LLC increased its holdings of Sunrun shares by 512.3% in the first quarter. CWM LLC now owns 845 shares of the energy company worth $26,000 after buying 707 additional shares in the last quarter. Clearstead Advisors LLC increased its holdings of Sunrun shares by 743.6% in the first quarter. Clearstead Advisors LLC now owns 928 shares of the energy company worth $28,000 after buying 818 additional shares in the last quarter. Fifth Third Bancorp increased its holdings of Sunrun shares by 120.6% in the first quarter. Fifth Third Bancorp now owns 1,006 shares of the energy company worth $31,000 after buying 550 more shares in the last quarter. Parallel Advisors LLC increased its holdings of Sunrun shares by 130.6% in the first quarter. Parallel Advisors LLC now owns 1,531 shares of the energy company worth $47,000 after buying 867 additional shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its equity stake in Sunrun by 45.1% during the first quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the energy company worth $59,000 after buying an additional 600 shares in the last quarter. 90.54% of the shares are currently held by institutional investors.

Sunrun stock up 4.5%

Sunrun shares opened at $33.24 on Friday. Sunrun Inc. has a 1 year minimum of $16.80 and a 1 year maximum of $60.60. The company has a 50-day moving average of $25.70 and a two-hundred-day moving average of $25.53. The company has a market capitalization of $7.05 billion, a P/E ratio of -59.36 and a beta of 2.29. The company has a debt ratio of 1.08, a current ratio of 1.73 and a quick ratio of 1.08.

Sunrun (NASDAQ:RUN – Get Rating) last reported quarterly results on Wednesday, May 4. The energy company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.35). Sunrun had a negative return on equity of 1.39% and a negative net margin of 5.86%. The company posted revenue of $495.78 million in the quarter, versus a consensus estimate of $401.60 million. In the same quarter last year, the company made ($0.11) earnings per share. The company’s revenue increased by 48.1% compared to the same quarter last year. As a group, stock analysts predict Sunrun Inc. will post -1.11 EPS for the current year.

A Wall Street analyst gives his opinion

Several brokerages have recently published reports on RUN. Barclays began covering Sunrun in a research note on Friday. They set an “overweight” rating and a price target of $46.00 on the stock. Evercore ISI raised its price target on Sunrun from $64.00 to $67.00 in a research note on Thursday. BMO Capital Markets raised its price target on Sunrun from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday. Goldman Sachs Group raised its price target on Sunrun from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised its price target on Sunrun from $50.00 to $52.00 in a Wednesday, July 20 research note. Two analysts gave the stock a hold rating and twelve gave the stock a buy rating. According to data from MarketBeat, Sunrun has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Insiders place their bets

Separately, insider Edward Harris Fenster sold 25,000 shares in a trade dated Thursday, June 23. The stock was sold at an average price of $25.00, for a total transaction of $625,000.00. Following the completion of the transaction, the insider now directly owns 1,585,134 shares of the company, valued at $39,628,350. The transaction was disclosed in a filing with the SEC, accessible via this link. In related news, insider Jeanna Steele sold 1,458 shares in a trade dated Wednesday, June 15. The stock was sold at an average price of $22.62, for a total transaction of $32,979.96. Following the completion of the transaction, the insider now directly owns 159,095 shares of the company, valued at $3,598,728.90. The transaction was disclosed in a filing with the SEC, accessible via this link. Additionally, insider Edward Harris Fenster sold 25,000 shares in a trade dated Thursday, June 23. The stock was sold at an average price of $25.00, for a total value of $625,000.00. Following the transaction, the insider now owns 1,585,134 shares of the company, valued at $39,628,350. The disclosure of this sale can be found here. Insiders sold 253,973 shares of the company worth $6,546,339 in the past ninety days. 4.29% of the shares are currently held by company insiders.

About Sunrun

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Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar power systems in the United States. It also sells solar energy systems and products, such as panels and racks; and solar leads generated for customers. Additionally, the company offers storage batteries as well as solar power systems.

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Institutional ownership by quarter for Sunrun (NASDAQ:RUN)



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