Bleakley Financial Group LLC Raises Stock Position in Sunrun Inc. (NASDAQ:RUN)

Bleakley Financial Group LLC grew its holdings in Sunrun Inc. (NASDAQ:RUN) by 22.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,583 shares of the energy company’s stock after purchasing an additional 2,483 shares during the quarter. Bleakley Financial Group LLC’s holdings in Sunrun were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Duncker Streett & Co. Inc. purchased a new stake in Sunrun during the 2nd quarter worth about $36,000. BNP Paribas purchased a new stake in shares of Sunrun during the first quarter worth approximately $37,000. CWM LLC raised its holdings in Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after acquiring an additional 3,014 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Sunrun in the second quarter worth approximately $45,000. Finally, Headlands Technologies LLC acquired a new position in Sunrun during the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insiders Place Their Bets

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the transaction, the director now owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jeanna Steele sold 24,161 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $19.24, for a total value of $464,857.64. Following the completion of the transaction, the insider now directly owns 310,617 shares of the company’s stock, valued at $5,976,271.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the sale, the director now owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,001 shares of company stock worth $3,220,345. Company insiders own 3.77% of the company’s stock.

Sunrun Stock Performance

NASDAQ:RUN opened at $13.85 on Thursday. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -2.17 and a beta of 2.58. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. Sunrun Inc. has a 1-year low of $8.43 and a 1-year high of $22.26. The firm’s fifty day moving average price is $18.11 and its 200 day moving average price is $15.19.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RUN. Evercore ISI reduced their price objective on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Barclays decreased their price target on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Finally, Susquehanna cut their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.79.

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.