Wellington Management Group LLP Makes New $15.94 Million Investment in Sunrun Inc. (NASDAQ:RUN)

Wellington Management Group LLP acquired a new stake in shares of Sunrun Inc. (NASDAQ:RUN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 811,763 shares of the energy company’s stock, valued at approximately $15,935,000. Wellington Management Group LLP owned 0.37% of Sunrun as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its position in Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after buying an additional 764 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Sunrun by 149.7% in the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after purchasing an additional 1,127 shares during the period. USCF Advisers LLC grew its holdings in Sunrun by 130.0% during the 4th quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after purchasing an additional 1,300 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Sunrun by 41.9% in the 4th quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock worth $62,000 after buying an additional 938 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Sunrun by 91.4% in the 4th quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock valued at $62,000 after buying an additional 1,513 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Stock Performance

RUN stock opened at $12.70 on Thursday. The company has a 50-day simple moving average of $12.38 and a 200 day simple moving average of $13.61. The company has a market capitalization of $2.82 billion, a P/E ratio of -1.90 and a beta of 2.65. The company has a quick ratio of 0.99, a current ratio of 1.31 and a debt-to-equity ratio of 1.84. Sunrun Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $23.85.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The company had revenue of $458.20 million during the quarter, compared to analyst estimates of $471.38 million. During the same period in the prior year, the business posted ($1.12) EPS. The business’s revenue for the quarter was down 22.3% compared to the same quarter last year. Sell-side analysts predict that Sunrun Inc. will post -1.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RUN. Royal Bank of Canada decreased their price objective on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Jefferies Financial Group cut their price objective on Sunrun from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Morgan Stanley lifted their target price on Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Mizuho dropped their price target on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, Susquehanna decreased their price objective on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating for the company in a report on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.47.

Insider Activity

In other news, CEO Mary Powell sold 22,549 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $272,166.43. Following the completion of the sale, the chief executive officer now owns 379,768 shares in the company, valued at $4,583,799.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Danny Abajian sold 17,440 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $12.07, for a total transaction of $210,500.80. Following the completion of the sale, the chief financial officer now owns 163,734 shares in the company, valued at approximately $1,976,269.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary Powell sold 22,549 shares of Sunrun stock in a transaction on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $272,166.43. Following the completion of the transaction, the chief executive officer now owns 379,768 shares in the company, valued at $4,583,799.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 427,143 shares of company stock worth $5,502,579. 3.76% of the stock is owned by company insiders.

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.