Alyeska Investment Group L.P. Decreases Stock Holdings in Sunrun Inc. $RUN

Key Points

• Alyeska Investment Group L.P. significantly reduced its stake in Sunrun Inc. by 86.5%, selling over 10 million shares, leaving it with approximately 1.63 million shares valued at $9.55 million.
• Several other hedge funds increased their holdings in Sunrun, with Greenvale Capital LLP and Sylebra Capital LLC boosting their stakes by 50.3% and 124.0%, respectively, indicating positive institutional interest in the company.
• Sunrun reported substantial quarterly earnings, posting $1.07 earnings per share, which surpassed expectations, and its revenue grew by 8.7% year-over-year, with analysts forecasting a consensus price target of $14.63 for the stock.

Alyeska Investment Group L.P. trimmed its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 86.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,629,328 shares of the energy company's stock after selling 10,399,126 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.71% of Sunrun worth $9,548,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Amundi increased its holdings in Sunrun by 12.1% during the 1st quarter. Amundi now owns 3,479,021 shares of the energy company's stock worth $20,686,000 after acquiring an additional 374,594 shares during the period. EP Wealth Advisors LLC boosted its holdings in Sunrun by 8.2% in the 1st quarter. EP Wealth Advisors LLC now owns 122,072 shares of the energy company's stock valued at $715,000 after purchasing an additional 9,232 shares during the period. PDT Partners LLC grew its position in shares of Sunrun by 1,019.5% during the 1st quarter. PDT Partners LLC now owns 779,310 shares of the energy company's stock valued at $4,567,000 after purchasing an additional 709,699 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Sunrun by 5.1% in the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company's stock worth $3,672,000 after purchasing an additional 30,175 shares during the period. Finally, Ieq Capital LLC bought a new position in shares of Sunrun in the first quarter worth $162,000. 91.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RUN has been the subject of several research analyst reports. Oppenheimer lifted their price objective on Sunrun from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Susquehanna raised their price target on Sunrun from $12.00 to $13.00 and gave the company a "positive" rating in a report on Thursday, August 7th. UBS Group lifted their price target on Sunrun from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Glj Research raised Sunrun from a "sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Sunrun from $16.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $14.63.

Insider Buying and Selling at Sunrun

In other news, CRO Paul S. Dickson sold 8,010 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $10.81, for a total value of $86,588.10. Following the completion of the sale, the executive owned 679,044 shares of the company's stock, valued at approximately $7,340,465.64. The trade was a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan Ferber sold 10,927 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $11.24, for a total value of $122,819.48. Following the transaction, the director owned 54,947 shares in the company, valued at approximately $617,604.28. The trade was a 16.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,314 shares of company stock valued at $910,283. 3.37% of the stock is currently owned by insiders.

Sunrun Price Performance

NASDAQ RUN traded up $1.75 on Friday, reaching $18.18. 17,570,626 shares of the company's stock traded hands, compared to its average volume of 16,604,277. The stock has a market cap of $4.19 billion, a PE ratio of -1.57 and a beta of 2.21. Sunrun Inc. has a 12 month low of $5.38 and a 12 month high of $21.77. The stock has a 50-day simple moving average of $12.18 and a 200 day simple moving average of $9.13. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $1.25. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The firm had revenue of $569.34 million during the quarter, compared to analyst estimates of $555.42 million. During the same period in the previous year, the business posted $0.55 EPS. The business's quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current year.

Sunrun Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.