Levin Capital Strategies L.P. Acquires New Position in Sunrun Inc (RUN)
Levin Capital Strategies L.P. bought a new position in shares of Sunrun Inc (NASDAQ:RUN) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the energy company’s stock, valued at approximately $131,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new stake in shares of Sunrun during the second quarter worth $204,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Sunrun during the first quarter worth $139,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sunrun by 36.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,366 shares of the energy company’s stock worth $209,000 after acquiring an additional 6,200 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Sunrun by 47.6% during the first quarter. Victory Capital Management Inc. now owns 25,648 shares of the energy company’s stock worth $229,000 after acquiring an additional 8,266 shares during the last quarter. Finally, Aperio Group LLC raised its position in shares of Sunrun by 20.8% during the first quarter. Aperio Group LLC now owns 31,228 shares of the energy company’s stock worth $279,000 after acquiring an additional 5,378 shares during the last quarter. Institutional investors own 77.41% of the company’s stock.
In other Sunrun news, General Counsel Jeanna Steele sold 8,312 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $12.98, for a total value of $107,889.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Edward Harris Fenster sold 90,224 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $15.22, for a total value of $1,373,209.28. Following the completion of the transaction, the chairman now directly owns 2,281,215 shares of the company’s stock, valued at $34,720,092.30. The disclosure for this sale can be found here. Over the last three months, insiders acquired 4,144,330 shares of company stock valued at $50,125,793 and sold 229,540 shares valued at $3,332,186. 19.45% of the stock is currently owned by insiders.
Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Thursday, August 9th. The energy company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.31). The company had revenue of $170.50 million during the quarter, compared to the consensus estimate of $167.64 million. Sunrun had a net margin of 20.26% and a return on equity of 7.49%. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. equities research analysts predict that Sunrun Inc will post 1.43 EPS for the current year.
A number of research firms have recently weighed in on RUN. JMP Securities restated a “buy” rating and set a $21.00 target price on shares of Sunrun in a research report on Monday, July 16th. Bank of America upped their price objective on Sunrun from $11.00 to $15.00 and gave the company an “underperform” rating in a report on Tuesday, July 24th. Zacks Investment Research upgraded Sunrun from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Morgan Stanley downgraded Sunrun from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $8.00 to $15.00 in a report on Friday, August 3rd. They noted that the move was a valuation call. Finally, Roth Capital set a $18.00 price objective on Sunrun and gave the company a “buy” rating in a report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Sunrun currently has a consensus rating of “Buy” and an average target price of $14.82.
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.
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