Quantitative Investment Management LLC Has $3.35 Million Position in Sunrun Inc. $RUN

Key Points

• Quantitative Investment Management LLC increased its stake in Sunrun Inc. by 169.5%, acquiring an additional 359,463 shares, bringing its total to 571,479 shares valued at $3.35 million.
• Wall Street analysts have raised their price targets for Sunrun, with Mizuho increasing it from $13.00 to $21.00 and Goldman Sachs raising it from $12.00 to $15.00, reflecting a growing optimism in the company's outlook.
• Sunrun Inc. reported a quarterly earnings of $1.07 per share, exceeding the consensus estimate significantly, and achieved a revenue of $569.34 million, which is an 8.7% increase year-over-year.

Quantitative Investment Management LLC raised its stake in Sunrun Inc. (NASDAQ:RUN - Free Report) by 169.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 571,479 shares of the energy company's stock after acquiring an additional 359,463 shares during the period. Quantitative Investment Management LLC owned about 0.25% of Sunrun worth $3,348,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RUN. AlphaQuest LLC grew its holdings in shares of Sunrun by 401.6% in the 1st quarter. AlphaQuest LLC now owns 60,252 shares of the energy company's stock worth $353,000 after purchasing an additional 48,239 shares during the last quarter. Erste Asset Management GmbH boosted its position in Sunrun by 5.5% in the first quarter. Erste Asset Management GmbH now owns 5,053,237 shares of the energy company's stock valued at $30,044,000 after buying an additional 264,024 shares in the last quarter. Humankind Investments LLC boosted its position in Sunrun by 28.5% in the first quarter. Humankind Investments LLC now owns 26,222 shares of the energy company's stock valued at $154,000 after buying an additional 5,818 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Sunrun by 13.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 63,822 shares of the energy company's stock worth $371,000 after buying an additional 7,359 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Sunrun by 17.5% during the first quarter. Northern Trust Corp now owns 2,764,452 shares of the energy company's stock worth $16,200,000 after buying an additional 410,800 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RUN has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded Sunrun from an "underperform" rating to a "hold" rating and increased their price target for the stock from $5.00 to $11.00 in a research report on Wednesday, July 9th. Wall Street Zen raised Sunrun from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. TD Cowen raised their target price on Sunrun from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. BNP Paribas Exane raised Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Monday, July 7th. Finally, KeyCorp upgraded shares of Sunrun from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.63.

Insider Transactions at Sunrun

In other Sunrun news, insider Jeanna Steele sold 17,417 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $16.25, for a total value of $283,026.25. Following the completion of the sale, the insider directly owned 422,203 shares in the company, valued at $6,860,798.75. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary Powell sold 11,509 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $124,297.20. Following the sale, the chief executive officer directly owned 893,240 shares in the company, valued at approximately $9,646,992. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,283 shares of company stock valued at $836,110. Insiders own 3.37% of the company's stock.

Sunrun Trading Up 1.4%

Shares of RUN stock traded up $0.23 during trading hours on Tuesday, reaching $16.61. The company had a trading volume of 11,105,614 shares, compared to its average volume of 19,483,592. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $21.77. The company has a 50 day moving average of $10.64 and a 200 day moving average of $8.69. 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 firm has a market cap of $3.83 billion, a price-to-earnings ratio of -1.43 and a beta of 2.37.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $555.42 million. During the same period last year, the business posted $0.55 earnings per share. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current year.

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.