Arrowstreet Capital Limited Partnership Makes New $5.55 Million Investment in Sunrun Inc. $RUN

Key Points

• Arrowstreet Capital initiated a $5.55 million Sunrun position by purchasing 409,326 shares, representing approximately 0.17% of the company. Institutional investors and hedge funds collectively own 91.69% of Sunrun.
• Sunrun reported stronger-than-expected quarterly results, with earnings of $0.62 per share and revenue of $722.23 million, up 43.2% year over year. Shares opened at $9.81, near their 52-week low of $9.01.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $18.81, while insiders recently sold shares primarily to cover tax obligations related to equity awards.

Arrowstreet Capital Limited Partnership bought a new position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 409,326 shares of the energy company's stock, valued at approximately $5,550,000. Arrowstreet Capital Limited Partnership owned 0.17% of Sunrun at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada increased its position 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. Integrated Wealth Concepts LLC lifted its position in Sunrun by 47.8% during the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company's stock worth $192,000 after purchasing an additional 10,598 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sunrun by 2.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company's stock worth $1,397,000 after buying an additional 5,882 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Sunrun by 511.0% during the first quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company's stock worth $158,000 after buying an additional 22,603 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Sunrun by 45.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company's stock worth $13,518,000 after buying an additional 718,955 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Stock Performance

Shares of Sunrun stock opened at $9.81 on Monday. Sunrun Inc. has a fifty-two week low of $9.01 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09. The firm has a market capitalization of $2.34 billion, a P/E ratio of 4.61 and a beta of 2.36. The company's 50 day moving average price is $12.78 and its two-hundred day moving average price is $14.38.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.67. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The firm had revenue of $722.23 million for the quarter, compared to analysts' expectations of $688.50 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company's revenue was up 43.2% on a year-over-year basis. On average, equities analysts forecast that Sunrun Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, insider Jeanna Steele sold 9,897 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $130,541.43. Following the completion of the transaction, the insider owned 461,715 shares of the company's stock, valued at $6,090,020.85. This represents a 2.10% decrease in their position. The sale 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, CEO Mary Powell sold 23,985 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $316,362.15. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 173,045 shares of company stock worth $2,436,835 over the last three months. 3.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RUN has been the subject of several analyst reports. UBS Group dropped their target price on shares of Sunrun from $23.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, June 16th. Glj Research reiterated a "sell" rating and set a $4.63 price target on shares of Sunrun in a research report on Friday, July 10th. TD Cowen decreased their price objective on shares of Sunrun from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Jefferies Financial Group lowered their price objective on shares of Sunrun from $22.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, April 7th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $18.00 target price on shares of Sunrun in a research note on Thursday, May 7th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $18.81.

Sunrun Profile

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.

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