Maple Rock Capital Partners Inc. raised its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 92.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,597,600 shares of the energy company's stock after purchasing an additional 1,732,000 shares during the period. Sunrun makes up about 1.0% of Maple Rock Capital Partners Inc.'s investment portfolio, making the stock its 16th biggest holding. Maple Rock Capital Partners Inc. owned about 1.60% of Sunrun worth $33,278,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in Sunrun during the 4th quarter worth approximately $402,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Sunrun during the fourth quarter worth approximately $18,500,000. Charles Schwab Investment Management Inc. boosted its stake in Sunrun by 7.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company's stock valued at $21,511,000 after purchasing an additional 155,311 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of Sunrun during the 4th quarter worth approximately $403,000. Finally, Soros Fund Management LLC lifted its position in Sunrun by 1,994.7% during the fourth quarter. Soros Fund Management LLC now owns 1,675,798 shares of the energy company's stock worth $15,501,000 after purchasing an additional 1,595,798 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.
Insider Activity
In related news, CFO Danny Abajian sold 16,927 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the completion of the transaction, the chief financial officer now directly owns 231,279 shares in the company, valued at approximately $1,558,820.46. The trade was a 6.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total value of $455,000.00. Following the sale, the director now owns 941,753 shares in the company, valued at approximately $8,569,952.30. This represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,540 shares of company stock valued at $1,050,944 in the last ninety days. 3.77% of the stock is currently owned by insiders.
Sunrun Stock Performance
Shares of RUN traded up $0.28 on Wednesday, reaching $7.34. 3,255,413 shares of the company's stock traded hands, compared to its average volume of 10,673,499. The stock's 50 day simple moving average is $6.66 and its two-hundred day simple moving average is $9.12. The stock has a market cap of $1.68 billion, a PE ratio of -4.05 and a beta of 2.66. Sunrun Inc. has a 52-week low of $5.45 and a 52-week high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.
Analyst Ratings Changes
Several brokerages have commented on RUN. JPMorgan Chase & Co. lowered their target price on Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Roth Capital set a $20.00 target price on shares of Sunrun in a report on Friday, February 28th. BNP Paribas raised Sunrun from a "neutral" rating to an "outperform" rating and set a $16.00 price objective for the company in a research report on Tuesday, January 7th. Susquehanna reduced their price objective on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Finally, Citigroup reissued a "neutral" rating and set a $7.00 target price on shares of Sunrun in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Sunrun has a consensus rating of "Hold" and a consensus price target of $14.92.
Read Our Latest Report on RUN
Sunrun Company Profile
(
Free Report)
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.
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