Sunrun Inc. $RUN Shares Sold by RWC Asset Management LLP

RWC Asset Management LLP reduced its position in Sunrun Inc. (NASDAQ:RUN) by 36.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 316,812 shares of the energy company’s stock after selling 180,456 shares during the quarter. RWC Asset Management LLP’s holdings in Sunrun were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. purchased a new stake in Sunrun in the 3rd quarter worth about $655,000. Diversify Advisory Services LLC boosted its position in Sunrun by 4.5% during the third quarter. Diversify Advisory Services LLC now owns 863,964 shares of the energy company’s stock worth $6,601,000 after purchasing an additional 36,887 shares during the period. Prime Capital Investment Advisors LLC bought a new position in Sunrun during the third quarter worth about $80,000. Vontobel Holding Ltd. increased its stake in shares of Sunrun by 77.5% in the third quarter. Vontobel Holding Ltd. now owns 195,585 shares of the energy company’s stock worth $1,520,000 after purchasing an additional 85,369 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Sunrun by 33.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 40,264 shares of the energy company’s stock valued at $313,000 after purchasing an additional 10,014 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jeanna Steele sold 10,042 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $77,925.92. Following the completion of the transaction, the insider directly owned 451,673 shares in the company, valued at $3,504,982.48. The trade was a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul Dickson sold 15,837 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $122,895.12. Following the completion of the transaction, the executive directly owned 823,702 shares in the company, valued at approximately $6,391,927.52. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 118,719 shares of company stock worth $1,031,277. Company insiders own 3.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on RUN shares. Susquehanna dropped their price target on shares of Sunrun from $15.00 to $13.00 and set a “positive” rating on the stock in a research note on Wednesday, October 14th. TD Cowen lowered their target price on shares of Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Citigroup lowered their target price on shares of Sunrun from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, October 9th. The Goldman Sachs Group cut their price target on Sunrun from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Finally, Barclays cut their price target on Sunrun from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, October 9th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Sunrun currently has a consensus rating of “Hold” and an average price target of $14.39.

Sunrun Price Performance

Shares of RUN stock traded down $0.12 during trading hours on Friday, reaching $7.58. The stock had a trading volume of 4,273,973 shares, compared to its average volume of 8,206,192. The stock’s fifty day simple moving average is $8.32 and its 200 day simple moving average is $11.15. 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 $6.78 and a 12 month high of $21.95. The firm has a market capitalization of $1.83 billion, a PE ratio of 5.12 and a beta of 2.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.23 by $0.19. The company had revenue of $869.99 million during the quarter, compared to analysts’ expectations of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. Sunrun’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. On average, equities research analysts predict that Sunrun Inc. will post 1.46 EPS for the current year.

Sunrun Profile

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.