Panagora Asset Management Inc. Makes New Investment in Sunrun Inc (NASDAQ:RUN)

Panagora Asset Management Inc. bought a new position in Sunrun Inc (NASDAQ:RUN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 17,538 shares of the energy company’s stock, valued at approximately $329,000.

Other hedge funds have also recently modified their holdings of the company. Perella Weinberg Partners Capital Management LP purchased a new stake in shares of Sunrun in the 2nd quarter worth $559,000. JPMorgan Chase & Co. raised its position in shares of Sunrun by 132.2% in the 1st quarter. JPMorgan Chase & Co. now owns 348,464 shares of the energy company’s stock worth $4,899,000 after acquiring an additional 198,395 shares in the last quarter. Capital Impact Advisors LLC bought a new position in shares of Sunrun in the 2nd quarter worth $1,903,000. Rehmann Capital Advisory Group raised its position in shares of Sunrun by 222.9% in the 1st quarter. Rehmann Capital Advisory Group now owns 12,235 shares of the energy company’s stock worth $172,000 after acquiring an additional 8,446 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in Sunrun by 102.2% during the 2nd quarter. Alps Advisors Inc. now owns 162,650 shares of the energy company’s stock valued at $3,051,000 after buying an additional 82,215 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

In other Sunrun news, Chairman Edward Harris Fenster sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $18.42, for a total transaction of $921,000.00. Following the transaction, the chairman now owns 2,394,713 shares in the company, valued at $44,110,613.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tiger Global Management Llc bought 122,516 shares of Sunrun stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $15.47 per share, with a total value of $1,895,322.52. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 6,461,313 shares of company stock worth $106,974,793 and have sold 306,995 shares worth $6,019,525. Corporate insiders own 9.34% of the company’s stock.

RUN has been the topic of several recent analyst reports. Goldman Sachs Group raised Sunrun from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, June 17th. Barclays initiated coverage on Sunrun in a research report on Thursday, May 16th. They set an “overweight” rating and a $21.00 target price on the stock. Zacks Investment Research raised Sunrun from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 10th. BidaskClub lowered Sunrun from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Roth Capital set a $24.00 target price on Sunrun and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Sunrun has an average rating of “Buy” and an average target price of $21.36.

RUN stock traded up $0.09 during mid-day trading on Friday, reaching $15.92. 29,793 shares of the company’s stock were exchanged, compared to its average volume of 1,515,057. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 68.96, a price-to-earnings-growth ratio of 5.97 and a beta of 0.75. The stock’s 50 day moving average is $16.52 and its 200 day moving average is $16.51. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.83 and a quick ratio of 0.69. Sunrun Inc has a 12-month low of $8.81 and a 12-month high of $21.42.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.18). The business had revenue of $204.60 million for the quarter, compared to analysts’ expectations of $198.78 million. Sunrun had a negative return on equity of 1.89% and a negative net margin of 2.84%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 EPS. On average, research analysts forecast that Sunrun Inc will post 0.5 earnings per share for the current fiscal year.

Sunrun Profile

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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