Clal Insurance Enterprises Holdings Ltd Buys 500,000 Shares of Sunrun Inc. (NASDAQ:RUN)

Key Points

• Clal Insurance Enterprises Holdings Ltd increased its stake in Sunrun Inc. by 25.0%, acquiring an additional 500,000 shares to reach a total of 2,500,000 shares valued at approximately $14.65 million.
• Sunrun's stock currently has a market capitalization of $2.68 billion and is down 2.1%, opening at $11.60, with a 1-year low of $5.38 and a high of $22.26.
• Despite recent positive quarterly earnings, analysts have mixed ratings on Sunrun, with an average consensus rating of "Hold" and a price target of $13.85.

Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 25.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,500,000 shares of the energy company's stock after purchasing an additional 500,000 shares during the period. Clal Insurance Enterprises Holdings Ltd owned 1.09% of Sunrun worth $14,650,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Greenvale Capital LLP boosted its stake in shares of Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after acquiring an additional 4,516,793 shares during the period. Alyeska Investment Group L.P. boosted its stake in shares of Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after acquiring an additional 10,294,947 shares during the period. Sylebra Capital LLC boosted its stake in shares of Sunrun by 124.0% in the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock worth $61,819,000 after acquiring an additional 3,699,405 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Sunrun by 27.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company's stock worth $61,252,000 after acquiring an additional 1,427,858 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Sunrun by 20.8% in the fourth quarter. Invesco Ltd. now owns 6,008,879 shares of the energy company's stock worth $55,582,000 after acquiring an additional 1,035,096 shares during the period. Institutional investors own 91.69% of the company's stock.

Sunrun Stock Down 2.1%

Sunrun stock opened at $11.60 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -1.00 and a beta of 2.37. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $22.26. The business has a fifty day moving average price of $9.36 and a 200-day moving average price of $8.29.

Sunrun (NASDAQ:RUN - Get Free Report) last posted 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. The firm had revenue of $569.34 million during the quarter, compared to analysts' expectations of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%. The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. Equities research analysts forecast that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 8,909 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $96,217.20. Following the completion of the transaction, the chief financial officer owned 446,797 shares in the company, valued at $4,825,407.60. This trade represents a 1.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeanna Steele sold 3,668 shares of Sunrun stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $39,614.40. Following the transaction, the insider owned 439,620 shares of the company's stock, valued at $4,747,896. The trade was a 0.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,939 shares of company stock worth $430,264. Insiders own 3.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RUN shares. Oppenheimer increased their price target on Sunrun from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada lowered Sunrun from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $12.00 to $5.00 in a research note on Wednesday, June 18th. TD Cowen upped their price objective on Sunrun from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Truist Financial restated a "hold" rating and set a $6.00 price objective (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Finally, UBS Group upped their price objective on Sunrun from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Sunrun currently has an average rating of "Hold" and a consensus price target of $13.85.

Sunrun Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.