Ameresco (NYSE:AMRC) Shares Gap Up Following Insider Buying Activity

Ameresco, Inc. (NYSE:AMRC)’s stock price gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $9.29, but opened at $10.11. Ameresco shares last traded at $10.46, with a volume of 232,008 shares trading hands.

Specifically, Director Francis V. Wisneski, Jr. bought 3,500 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the purchase, the director now directly owns 17,738 shares of the company’s stock, valued at approximately $171,526.46. The trade was a 24.58 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO George P. Sakellaris acquired 25,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $9.27 per share, with a total value of $231,750.00. Following the completion of the acquisition, the chief executive officer now owns 978,638 shares in the company, valued at $9,071,974.26. This represents a 2.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other Ameresco news, CEO George P. Sakellaris acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $9.96 per share, with a total value of $498,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 903,638 shares in the company, valued at $9,000,234.48. This trade represents a 5.86 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMRC shares. Canaccord Genuity Group reduced their price target on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a report on Friday, February 28th. Stifel Nicolaus cut their price objective on Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird reduced their price objective on Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. StockNews.com upgraded Ameresco to a “sell” rating in a report on Tuesday, November 12th. Finally, UBS Group downgraded shares of Ameresco from a “buy” rating to a “sell” rating and cut their price target for the company from $37.00 to $8.00 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Ameresco Price Performance

The company has a market cap of $582.75 million, a P/E ratio of 11.11, a P/E/G ratio of 0.49 and a beta of 2.07. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The stock has a 50-day simple moving average of $20.98 and a 200 day simple moving average of $27.01.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. The company had revenue of $532.67 million during the quarter, compared to analyst estimates of $524.31 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. On average, equities analysts expect that Ameresco, Inc. will post 1.15 EPS for the current year.

Hedge Funds Weigh In On Ameresco

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP raised its holdings in Ameresco by 124.4% during the fourth quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider’s stock worth $19,682,000 after acquiring an additional 464,737 shares in the last quarter. Wellington Management Group LLP increased its position in Ameresco by 81.3% during the third quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock worth $38,126,000 after acquiring an additional 450,571 shares during the period. DnB Asset Management AS increased its stake in Ameresco by 59.6% during the 4th quarter. DnB Asset Management AS now owns 613,430 shares of the utilities provider’s stock worth $14,403,000 after acquiring an additional 229,128 shares during the period. Dimensional Fund Advisors LP increased its holdings in Ameresco by 22.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider’s stock valued at $27,230,000 after buying an additional 214,918 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in Ameresco by 87.7% in the fourth quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider’s stock valued at $9,888,000 after acquiring an additional 196,776 shares during the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

Ameresco Company Profile

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, Europe, and internationally. It operates through U.S. Regions, U.S. Federal, Canada, Europe, Alternative Fuels, and All Other segments. The company offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.