Granahan Investment Management LLC Sells 97,997 Shares of Ameresco, Inc. (NYSE:AMRC)

Granahan Investment Management LLC cut its holdings in Ameresco, Inc. (NYSE:AMRC - Free Report) by 90.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,617 shares of the utilities provider's stock after selling 97,997 shares during the quarter. Granahan Investment Management LLC's holdings in Ameresco were worth $249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMRC. Deutsche Bank AG grew its stake in shares of Ameresco by 45.5% in the 4th quarter. Deutsche Bank AG now owns 33,535 shares of the utilities provider's stock valued at $787,000 after buying an additional 10,483 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Ameresco by 23.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 238,002 shares of the utilities provider's stock valued at $5,588,000 after buying an additional 44,442 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Ameresco by 25.4% in the 4th quarter. Captrust Financial Advisors now owns 22,131 shares of the utilities provider's stock valued at $520,000 after buying an additional 4,484 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Ameresco by 6.0% in the 4th quarter. Bank of America Corp DE now owns 196,592 shares of the utilities provider's stock valued at $4,616,000 after buying an additional 11,163 shares in the last quarter. Finally, Algert Global LLC grew its stake in shares of Ameresco by 5.0% in the 4th quarter. Algert Global LLC now owns 167,888 shares of the utilities provider's stock valued at $3,942,000 after buying an additional 7,985 shares in the last quarter. 99.24% of the stock is currently owned by institutional investors.

Insider Activity at Ameresco

In other news, Director Francis V. Wisneski, Jr. bought 3,500 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the purchase, the director now owns 17,738 shares of the company's stock, valued at $171,526.46. This trade represents a 24.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George P. Sakellaris purchased 25,000 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $9.27 per share, for a total transaction of $231,750.00. Following the completion of the transaction, the chief executive officer now directly owns 978,638 shares of the company's stock, valued at approximately $9,071,974.26. This trade represents a 2.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 80,808 shares of company stock worth $785,274. 42.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AMRC shares. Baird R W cut Ameresco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Piper Sandler set a $21.00 price target on Ameresco and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Canaccord Genuity Group upped their target price on Ameresco from $27.00 to $29.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. UBS Group cut Ameresco from a "buy" rating to a "sell" rating and decreased their target price for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus decreased their target price on Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.17.

Ameresco Stock Performance

Shares of AMRC stock traded down $0.41 during trading hours on Wednesday, reaching $14.16. 401,418 shares of the company's stock were exchanged, compared to its average volume of 513,280. Ameresco, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $39.68. The stock has a market capitalization of $743.98 million, a P/E ratio of 14.16, a P/E/G ratio of 0.49 and a beta of 2.20. The business has a fifty day moving average price of $11.34 and a 200-day moving average price of $19.48. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36.

Ameresco (NYSE:AMRC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The utilities provider reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.15. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The company had revenue of $352.83 million during the quarter, compared to analyst estimates of $323.71 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The company's quarterly revenue was up 18.2% compared to the same quarter last year. Analysts predict that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Ameresco Company Profile

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, Europe, and internationally. It operates through U.S. Regions, U.S. Federal, Canada, Europe, Alternative Fuels, and All Other segments. The company offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.