Voya Investment Management LLC Reduces Stake in Sunrun Inc. (NASDAQ:RUN)

Voya Investment Management LLC trimmed its position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 72.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,604 shares of the energy company's stock after selling 170,083 shares during the period. Voya Investment Management LLC's holdings in Sunrun were worth $607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in Sunrun in the fourth quarter worth $29,000. Newbridge Financial Services Group Inc. raised its position in Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock valued at $32,000 after purchasing an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Sunrun during the 3rd quarter valued at $44,000. Summit Securities Group LLC bought a new stake in Sunrun during the 4th quarter valued at $53,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Sunrun during the 4th quarter valued at $56,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sunrun

In related news, Director Edward Harris Fenster bought 50,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $10.87 per share, with a total value of $543,500.00. Following the purchase, the director now directly owns 1,408,182 shares of the company's stock, valued at $15,306,938.34. This trade represents a 3.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeanna Steele sold 9,942 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $67,009.08. Following the transaction, the insider now directly owns 291,238 shares of the company's stock, valued at $1,962,944.12. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,540 shares of company stock worth $1,050,944 over the last quarter. 3.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial reaffirmed a "hold" rating and set a $6.00 target price (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on Sunrun from $22.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group downgraded Sunrun from a "buy" rating to a "hold" rating and dropped their price objective for the company from $14.00 to $8.00 in a research report on Wednesday, March 12th. UBS Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Sunrun in a research report on Wednesday. Finally, Susquehanna dropped their price objective on Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.92.

Sunrun Price Performance

Shares of Sunrun stock traded up $0.60 on Wednesday, reaching $12.50. The company's stock had a trading volume of 9,611,078 shares, compared to its average volume of 11,040,221. The company has a market capitalization of $2.86 billion, a P/E ratio of -6.87 and a beta of 2.66. The stock has a 50-day moving average price of $6.95 and a 200-day moving average price of $8.97. Sunrun Inc. has a 52-week low of $5.45 and a 52-week high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company had revenue of $504.27 million for the quarter, compared to analyst estimates of $487.29 million. During the same quarter in the previous year, the company posted ($0.40) earnings per share. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts expect that Sunrun Inc. will post -0.43 EPS for the current year.

About Sunrun

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.