Penn Capital Management Company LLC Makes New Investment in Ameresco, Inc. $AMRC

Penn Capital Management Company LLC acquired a new stake in Ameresco, Inc. (NYSE:AMRC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,964 shares of the utilities provider’s stock, valued at approximately $670,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Legal & General Group Plc lifted its position in shares of Ameresco by 14.3% during the 2nd quarter. Legal & General Group Plc now owns 679,355 shares of the utilities provider’s stock valued at $10,319,000 after buying an additional 84,960 shares in the last quarter. First Trust Advisors LP increased its holdings in Ameresco by 1,832.5% in the 2nd quarter. First Trust Advisors LP now owns 1,775,187 shares of the utilities provider’s stock worth $26,965,000 after acquiring an additional 1,683,326 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Ameresco by 318.2% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,788 shares of the utilities provider’s stock worth $3,620,000 after acquiring an additional 82,015 shares in the last quarter. Swedbank AB acquired a new position in Ameresco during the third quarter worth $3,895,000. Finally, Caxton Associates LLP acquired a new position in Ameresco during the second quarter worth $2,300,000. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameresco news, Director Nickolas Stavropoulos sold 15,700 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $34.15, for a total value of $536,155.00. Following the transaction, the director directly owned 14,111 shares of the company’s stock, valued at $481,890.65. This trade represents a 52.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 17,020 shares of company stock valued at $577,840. Company insiders own 44.96% of the company’s stock.

Ameresco Price Performance

Ameresco stock opened at $26.72 on Thursday. The company has a fifty day simple moving average of $30.58 and a 200-day simple moving average of $32.39. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.05 and a beta of 2.53. The company has a quick ratio of 1.50, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. Ameresco, Inc. has a 52-week low of $8.49 and a 52-week high of $44.93.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Monday, March 2nd. The utilities provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. The firm had revenue of $581.03 million for the quarter, compared to the consensus estimate of $556.09 million. Ameresco had a net margin of 2.29% and a return on equity of 4.49%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. On average, equities analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMRC. Canaccord Genuity Group lifted their target price on shares of Ameresco from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. William Blair upgraded shares of Ameresco to a “hold” rating in a research report on Tuesday, January 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ameresco in a research note on Wednesday, March 4th. Wall Street Zen cut Ameresco from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $38.00 price objective (up from $37.00) on shares of Ameresco in a research note on Wednesday, March 11th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Ameresco Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.