Park West Asset Management LLC Boosts Stock Holdings in Sunrun Inc. $RUN

Key Points

• Park West Asset Management LLC has increased its position in Sunrun Inc. by 18.7%, now owning approximately 1.75 million shares valued at over $10 million.
• Recent analyst reports show a positive outlook for Sunrun, with several upgrades in ratings and price targets, including a boost from TD Cowen to $14.00, indicating a strong buy interest.
• Sunrun's recent earnings report exceeded analyst expectations, reporting $1.07 EPS against estimates of ($0.18), contributing to a revenue increase of 8.7% year-over-year.

Park West Asset Management LLC boosted its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,747,726 shares of the energy company's stock after acquiring an additional 275,000 shares during the period. Park West Asset Management LLC owned 0.76% of Sunrun worth $10,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RUN. PharVision Advisers LLC acquired a new position in shares of Sunrun during the first quarter valued at about $69,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Sunrun by 2.5% during the 1st 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. Integrated Wealth Concepts LLC boosted its stake in shares of Sunrun by 47.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company's stock worth $192,000 after buying an additional 10,598 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Sunrun by 14.1% in the first quarter. Advisors Asset Management Inc. now owns 55,367 shares of the energy company's stock valued at $324,000 after acquiring an additional 6,837 shares in the last quarter. Finally, Amundi increased its position in shares of Sunrun by 12.1% during the first quarter. Amundi now owns 3,479,021 shares of the energy company's stock valued at $20,686,000 after acquiring an additional 374,594 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

Sunrun Price Performance

RUN stock traded down $0.89 during mid-day trading on Tuesday, reaching $16.03. 10,456,734 shares of the company traded hands, compared to its average volume of 16,518,594. The company has a fifty day moving average price of $12.49 and a 200-day moving average price of $9.24. The company has a market capitalization of $3.70 billion, a P/E ratio of -1.38 and a beta of 2.21. Sunrun Inc. has a 52-week low of $5.38 and a 52-week high of $21.77. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $1.25. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company had revenue of $569.34 million during the quarter, compared to the consensus estimate of $555.42 million. During the same period in the previous year, the firm posted $0.55 EPS. The firm's revenue was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Activity

In other Sunrun news, Director Alan Ferber sold 10,927 shares of the firm's 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 sale, the director directly owned 54,947 shares in the company, valued at $617,604.28. This trade represents a 16.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeanna Steele sold 7,077 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $16.75, for a total transaction of $118,539.75. Following the sale, the insider directly owned 415,126 shares in the company, valued at $6,953,360.50. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,314 shares of company stock worth $910,283. 3.37% of the stock is owned by company insiders.

Analyst Ratings Changes

RUN has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Sunrun from $8.00 to $14.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. TD Cowen lifted their price target on shares of Sunrun from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. BNP Paribas Exane upgraded Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price objective on the stock in a research note on Monday, July 7th. BMO Capital Markets raised their target price on Sunrun from $8.00 to $10.00 and gave the stock an "underperform" rating in a research report on Thursday, August 7th. Finally, BNP Paribas upgraded Sunrun from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $14.63.

About Sunrun

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.