Man Group plc Acquires New Holdings in Sunrun Inc. $RUN

Key Points

• Man Group plc acquired 768,376 Sunrun shares worth approximately $10.3 million during the second quarter, giving it a 0.32% stake. Institutional investors collectively own 91.69% of Sunrun.
• Sunrun reported quarterly earnings of $0.42 per share, beating estimates of $0.23, while revenue rose 52.8% year over year to $870 million. Despite the strong results, the stock opened at $8.78, near its 52-week low of $8.61.
• Analyst sentiment remains mixed: the consensus rating is Hold with a $16.81 price target, although most analysts maintain Buy ratings. Company insiders sold 223,045 shares worth approximately $2.9 million during the latest quarter.

Man Group plc bought a new position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 768,376 shares of the energy company's stock, valued at approximately $10,281,000. Man Group plc owned 0.32% of Sunrun at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in Sunrun in the 2nd quarter valued at approximately $25,000. Farther Finance Advisors LLC lifted its holdings in shares of Sunrun by 156.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company's stock worth $27,000 after purchasing an additional 885 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sunrun during the fourth quarter worth $27,000. Hantz Financial Services Inc. grew its stake in shares of Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company's stock worth $28,000 after purchasing an additional 564 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Sunrun in the fourth quarter valued at $30,000. 91.69% of the stock is owned by institutional investors.

Sunrun Stock Down 3.1%

Shares of Sunrun stock opened at $8.78 on Friday. Sunrun Inc. has a one year low of $8.61 and a one year high of $22.44. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The stock's 50-day moving average is $11.08 and its 200 day moving average is $13.10. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 5.93 and a beta of 2.35.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate 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% on a year-over-year basis. Equities research analysts anticipate that Sunrun Inc. will post 1.18 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on RUN. Oppenheimer reaffirmed an "outperform" rating and set a $20.00 target price on shares of Sunrun in a research report on Thursday, August 6th. UBS Group lowered their price target on shares of Sunrun from $23.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, June 16th. Mizuho set a $18.00 price target on shares of Sunrun in a research report on Thursday, August 6th. Roth Capital reaffirmed a "buy" rating on shares of Sunrun in a research note on Thursday, July 9th. Finally, Citigroup decreased their price objective on shares of Sunrun from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, August 7th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.81.

Insider Activity at Sunrun

In other news, CRO Paul S. Dickson sold 15,613 shares of Sunrun stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.18, for a total value of $205,779.34. Following the completion of the sale, the executive owned 839,539 shares in the company, valued at $11,065,124.02. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the transaction, the director owned 367,405 shares in the company, valued at $3,659,353.80. The trade was a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 223,045 shares of company stock worth $2,934,835. Corporate insiders own 3.55% of the company's stock.

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.

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