Man Group plc Sells 2,066,999 Shares of Sunrun Inc. (NASDAQ:RUN)

Man Group plc decreased its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 81.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 468,523 shares of the energy company's stock after selling 2,066,999 shares during the period. Man Group plc owned 0.21% of Sunrun worth $4,334,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in shares of Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company's stock valued at $229,000 after purchasing an additional 1,360 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Sunrun by 6.8% in the 4th quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company's stock valued at $253,000 after acquiring an additional 1,749 shares during the period. Xponance Inc. increased its holdings in shares of Sunrun by 13.2% in the 4th quarter. Xponance Inc. now owns 16,265 shares of the energy company's stock valued at $150,000 after acquiring an additional 1,895 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock worth $32,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in shares of Sunrun by 17.7% during the 4th quarter. Scotia Capital Inc. now owns 14,377 shares of the energy company's stock worth $133,000 after purchasing an additional 2,157 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Sunrun to a "sell" rating in a research note on Thursday, May 8th. Truist Financial restated a "hold" rating and set a $6.00 price objective (down from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. BMO Capital Markets decreased their price objective on Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a research note on Monday, March 3rd. Susquehanna decreased their price objective on Sunrun from $13.00 to $10.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.92.

Sunrun Stock Down 7.6%

Shares of RUN stock opened at $10.66 on Thursday. The stock's 50-day simple moving average is $7.57 and its 200-day simple moving average is $8.90. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm has a market capitalization of $2.44 billion, a PE ratio of -5.86 and a beta of 2.66. Sunrun Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $22.26.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.42. The business had revenue of $504.27 million for the quarter, compared to analyst estimates of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company's revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.40) earnings per share. Equities analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Activity

In other Sunrun news, Director Edward Harris Fenster purchased 150,000 shares of the stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now owns 1,358,182 shares of the company's stock, valued at $9,235,637.60. This trade represents a 12.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mary Powell sold 31,197 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $210,267.78. Following the transaction, the chief executive officer now owns 534,615 shares in the company, valued at $3,603,305.10. This represents a 5.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,540 shares of company stock valued at $595,944. Company insiders own 3.37% of the company's stock.

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.

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