Neuberger Berman Group LLC Trims Stake in Sunrun Inc. $RUN

Key Points

• Neuberger Berman Group LLC significantly reduced its stake in Sunrun Inc. by 83.9%, now holding 59,451 shares valued at $348,000 after selling over 309,000 shares in Q1.
• Multiple hedge funds, including Alyeska Investment Group and Soros Fund Management, increased their stakes in Sunrun, highlighting a shift among institutional investors.
• Sunrun reported a quarterly earnings surprise with an EPS of $1.07, surpassing analysts' expectations by $1.25, and its revenue increased by 8.7% year-over-year to $569.34 million.

Neuberger Berman Group LLC trimmed its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 83.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 59,451 shares of the energy company's stock after selling 309,627 shares during the period. Neuberger Berman Group LLC's holdings in Sunrun were worth $348,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC increased its stake in shares of Sunrun by 807.5% during the 4th quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock worth $64,000 after purchasing an additional 6,129 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $92,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $94,000. Apollon Wealth Management LLC purchased a new stake in shares of Sunrun during the 1st quarter worth approximately $60,000. Finally, US Bancorp DE boosted its holdings in Sunrun by 107.6% in the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after buying an additional 5,342 shares during the period. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insiders Place Their Bets

In other Sunrun news, Director Alan Ferber sold 10,927 shares of Sunrun stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $11.24, for a total value of $122,819.48. Following the completion of the transaction, the director directly owned 54,947 shares of the company's stock, valued at approximately $617,604.28. The trade was a 16.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeanna Steele sold 3,668 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $39,614.40. Following the transaction, the insider directly owned 439,620 shares of the company's stock, valued at $4,747,896. The trade was a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,866 shares of company stock valued at $553,083. 3.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on RUN shares. Wall Street Zen raised shares of Sunrun from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Glj Research upgraded shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Friday, August 15th. KeyCorp raised shares of Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. The Goldman Sachs Group raised their price target on shares of Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, TD Cowen lifted their price objective on Sunrun from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $14.63.

Sunrun Stock Up 0.4%

NASDAQ:RUN traded up $0.0650 during mid-day trading on Wednesday, hitting $15.5550. 10,434,524 shares of the company's stock were exchanged, compared to its average volume of 17,318,557. Sunrun Inc. has a one year low of $5.38 and a one year high of $22.26. 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 business has a fifty day moving average price of $9.91 and a 200 day moving average price of $8.44. The company has a market cap of $3.59 billion, a PE ratio of -1.34 and a beta of 2.37.

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