RWC Asset Management LLP Sells 180,456 Shares of Sunrun Inc. $RUN

Key Points

• RWC Asset Management cut its Sunrun stake by 36.3%, selling 180,456 shares and retaining 316,812 shares valued at approximately $2.46 million. Institutional investors collectively own 91.69% of the company.
• Sunrun insiders sold 118,719 shares worth about $1.03 million over the past 90 days, including sales by CFO Danny Abajian and director Lynn Jurich.
• Analyst sentiment is mixed, with a consensus “Hold” rating and average price target of $14.39. Sunrun shares recently traded at $7.58, near their 52-week low of $6.78.

RWC Asset Management LLP decreased its holdings in Sunrun Inc. (NASDAQ:RUN - Free Report) by 36.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 316,812 shares of the energy company's stock after selling 180,456 shares during the quarter. RWC Asset Management LLP owned 0.13% of Sunrun worth $2,462,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP bought a new stake in Sunrun during the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Sunrun in the fourth quarter valued at approximately $27,000. Summit Securities Group LLC purchased a new position in shares of Sunrun during the first quarter valued at approximately $36,000. Nykredit A S purchased a new position in shares of Sunrun during the second quarter valued at approximately $78,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in Sunrun during the third quarter worth $80,000. Institutional investors and hedge funds own 91.69% of the company's stock.

Insider Activity at Sunrun

In related news, CFO Danny Abajian sold 16,734 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $129,855.84. Following the completion of the transaction, the chief financial officer owned 386,532 shares in the company, valued at approximately $2,999,488.32. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Jurich sold 50,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $9.96, for a total transaction of $498,000.00. Following the sale, the director owned 367,405 shares of the company's stock, valued at $3,659,353.80. This trade represents 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 ninety days, insiders sold 118,719 shares of company stock worth $1,031,277. 3.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays lowered their price target on Sunrun from $14.00 to $12.00 and set an "equal weight" rating for the company in a research report on Friday, October 9th. Weiss Ratings raised shares of Sunrun from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, October 9th. Glj Research reiterated a "sell" rating and issued a $4.63 target price on shares of Sunrun in a research note on Monday, August 17th. TD Cowen lowered their target price on shares of Sunrun from $21.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, Susquehanna dropped their price target on shares of Sunrun from $15.00 to $13.00 and set a "positive" rating on the stock in a research report on Wednesday, October 14th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.39.

Sunrun Stock Performance

Shares of RUN traded down $0.12 on Friday, reaching $7.58. 4,273,973 shares of the company's stock traded hands, compared to its average volume of 8,206,192. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The stock has a market cap of $1.83 billion, a PE ratio of 5.12 and a beta of 2.44. The stock's 50 day simple moving average is $8.32 and its two-hundred day simple moving average is $11.15. Sunrun Inc. has a 52-week low of $6.78 and a 52-week high of $21.95.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.19. The business had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. Sunrun's quarterly revenue was up 52.8% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. On average, analysts forecast that Sunrun Inc. will post 1.46 earnings per share for the current fiscal year.

Sunrun Profile

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.

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