Maple Rock Capital Partners Inc. Has $49.43 Million Position in Sunrun Inc. $RUN

Maple Rock Capital Partners Inc. grew its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 23.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,694,548 shares of the energy company’s stock after buying an additional 692,448 shares during the quarter. Maple Rock Capital Partners Inc. owned approximately 1.53% of Sunrun worth $49,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RUN. Contour Asset Management LLC bought a new position in shares of Sunrun in the 4th quarter valued at about $98,010,000. Norges Bank acquired a new position in Sunrun during the fourth quarter worth approximately $62,169,000. Voloridge Investment Management LLC acquired a new stake in shares of Sunrun in the third quarter valued at approximately $40,193,000. Bank of America Corp DE bought a new position in shares of Sunrun during the 2nd quarter worth approximately $29,953,000. Finally, Bank of New York Mellon Corp bought a new stake in Sunrun in the 2nd quarter valued at $18,120,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings cut shares of Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. Susquehanna decreased their price target on shares of Sunrun from $18.00 to $15.00 and set a “positive” rating on the stock in a research note on Friday, August 7th. Mizuho set a $18.00 price objective on shares of Sunrun in a research report on Thursday, August 6th. Zacks Research downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group reduced their price target on Sunrun from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Sunrun has a consensus rating of “Hold” and an average price target of $16.81.

Sunrun Stock Down 2.5%

Shares of RUN opened at $8.56 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. Sunrun Inc. has a 12 month low of $8.49 and a 12 month high of $22.44. The firm’s 50 day moving average is $10.98 and its 200-day moving average is $12.97. The stock has a market capitalization of $2.06 billion, a PE ratio of 5.78 and a beta of 2.36.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business had revenue of $869.99 million during the quarter, compared to analysts’ expectations of $746.87 million. During the same period in the previous year, the company posted $1.07 earnings per share. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. Equities research analysts forecast that Sunrun Inc. will post 1.18 EPS for the current year.

Insider Activity at Sunrun

In related news, CEO Mary Powell sold 23,985 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $316,362.15. Following the completion of the sale, the chief executive officer owned 1,111,535 shares of the company’s stock, valued at $14,661,146.65. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the completion of the transaction, the director directly owned 367,405 shares in the company, valued at approximately $3,659,353.80. This represents a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 173,045 shares of company stock worth $2,138,835 in the last quarter. 3.55% of the stock is currently owned by corporate insiders.

About Sunrun

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.