Mercer Global Advisors Inc. ADV Sells 20,170 Shares of Sunrun Inc. (NASDAQ:RUN)

Mercer Global Advisors Inc. ADV lessened its position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 41.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,153 shares of the energy company's stock after selling 20,170 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Sunrun were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RUN. Norges Bank bought a new position in Sunrun in the 4th quarter worth about $31,022,000. Clal Insurance Enterprises Holdings Ltd bought a new position in Sunrun in the 4th quarter worth about $18,500,000. Soros Fund Management LLC increased its stake in Sunrun by 1,994.7% in the 4th quarter. Soros Fund Management LLC now owns 1,675,798 shares of the energy company's stock worth $15,501,000 after acquiring an additional 1,595,798 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Sunrun by 27.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company's stock worth $61,252,000 after acquiring an additional 1,427,858 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Sunrun by 20.8% in the 4th quarter. Invesco Ltd. now owns 6,008,879 shares of the energy company's stock worth $55,582,000 after acquiring an additional 1,035,096 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insiders Place Their Bets

In other news, CFO Danny Abajian sold 16,927 shares of the company's stock in a transaction dated Monday, April 7th. The stock was 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 owns 231,279 shares of the company's stock, valued at $1,558,820.46. This represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward Harris Fenster acquired 50,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $10.87 per share, with a total value of $543,500.00. Following the purchase, the director now owns 1,408,182 shares of the company's stock, valued at approximately $15,306,938.34. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 138,540 shares of company stock worth $1,050,944 over the last quarter. 3.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BMO Capital Markets decreased their target price on Sunrun from $11.00 to $9.00 and set a "market perform" rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group reduced their price objective on Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Truist Financial reiterated a "hold" rating and set a $6.00 price objective (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. StockNews.com upgraded Sunrun to a "sell" rating in a research report on Thursday, May 8th. Finally, TD Cowen reduced their price target on Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $14.92.

Sunrun Stock Performance

Sunrun stock traded down $0.60 during mid-day trading on Friday, reaching $12.25. 12,813,123 shares of the stock traded hands, compared to its average volume of 11,082,745. The stock has a market capitalization of $2.80 billion, a PE ratio of -6.73 and a beta of 2.66. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun Inc. has a 12-month low of $5.45 and a 12-month high of $22.26. The business's 50-day moving average is $7.28 and its 200-day moving average is $8.93.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to analysts' expectations of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. Sunrun's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.40) earnings per share. As a group, sell-side analysts predict that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Sunrun 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.