Man Group plc Invests $10.28 Million in Sunrun Inc. $RUN

Man Group plc acquired a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 768,376 shares of the energy company’s stock, valued at approximately $10,281,000.

A number of other large investors have also recently made changes to their positions in the business. Allworth Financial LP bought a new stake in Sunrun during the second quarter worth $25,000. Farther Finance Advisors LLC lifted its stake in Sunrun by 156.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after acquiring an additional 885 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Sunrun during the 4th quarter worth $27,000. Hantz Financial Services Inc. grew its stake in shares of Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after acquiring an additional 564 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Sunrun in the 4th quarter worth $30,000. 91.69% of the stock is owned by institutional investors.

Insider Buying and Selling at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 15,613 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.18, for a total transaction of $205,779.34. Following the sale, the executive directly owned 839,539 shares of the company’s stock, valued at $11,065,124.02. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $9.96, for a total transaction of $498,000.00. Following the transaction, the director owned 367,405 shares of the company’s stock, valued at $3,659,353.80. This represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 223,045 shares of company stock valued at $2,934,835. Insiders own 3.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RUN. Mizuho set a $18.00 price target on shares of Sunrun in a research report on Thursday, August 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Sunrun in a research report on Thursday, August 6th. Citigroup decreased their price objective on shares of Sunrun from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Weiss Ratings cut shares of Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $17.00 target price on shares of Sunrun in a research note on Friday, May 8th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.81.

Sunrun Stock Performance

Shares of RUN opened at $8.78 on Friday. Sunrun Inc. has a 1 year low of $8.61 and a 1 year high of $22.44. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The stock’s fifty day moving average price is $11.08 and its two-hundred day moving average price is $13.10. The firm has a market cap of $2.11 billion, a PE ratio of 5.93 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The company had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. During the same quarter in the prior year, the company earned $1.07 EPS. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. On average, equities research analysts forecast that Sunrun Inc. will post 1.18 EPS for the current year.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.