AQR Capital Management LLC Acquires New Holdings in Sunrun Inc. (NASDAQ:RUN)

AQR Capital Management LLC acquired a new stake in shares of Sunrun Inc. (NASDAQ:RUN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,797 shares of the energy company’s stock, valued at approximately $436,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Sunrun by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock valued at $384,394,000 after acquiring an additional 176,861 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Sunrun by 142.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock valued at $3,199,000 after acquiring an additional 142,563 shares in the last quarter. Symmetry Investments LP acquired a new stake in Sunrun in the second quarter valued at approximately $1,205,000. State of Alaska Department of Revenue lifted its stake in shares of Sunrun by 466.2% during the first quarter. State of Alaska Department of Revenue now owns 132,878 shares of the energy company’s stock worth $1,751,000 after buying an additional 109,411 shares during the period. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Sunrun during the first quarter worth $171,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RUN. Evercore ISI lowered their price objective on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Piper Sandler lifted their price objective on shares of Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna lifted their price objective on shares of Sunrun from $23.00 to $24.00 and gave the stock a “positive” rating in a research note on Monday, July 15th. Finally, Oppenheimer lifted their price objective on shares of Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.55.

Insiders Place Their Bets

In other news, Director Lynn Michelle Jurich sold 1,937 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $35,311.51. Following the completion of the transaction, the director now directly owns 1,242,446 shares in the company, valued at approximately $22,649,790.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sunrun news, CEO Mary Powell sold 2,148 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total value of $40,360.92. Following the sale, the chief executive officer now owns 579,193 shares in the company, valued at approximately $10,883,036.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $35,311.51. Following the sale, the director now owns 1,242,446 shares in the company, valued at approximately $22,649,790.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 180,001 shares of company stock valued at $3,336,845. 3.77% of the stock is currently owned by insiders.

Sunrun Stock Down 3.6 %

RUN opened at $15.09 on Wednesday. Sunrun Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $22.26. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The firm’s fifty day moving average price is $18.59 and its two-hundred day moving average price is $15.12. The company has a market capitalization of $3.37 billion, a P/E ratio of -2.37 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The company had revenue of $523.87 million during the quarter, compared to analysts’ expectations of $516.76 million. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue was down 11.2% on a year-over-year basis. On average, analysts anticipate that Sunrun Inc. will post -0.17 EPS for the current year.

Sunrun Company 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.