Range Financial Group LLC Invests $1.40 Million in Sunrun Inc. $RUN

Range Financial Group LLC acquired a new stake in Sunrun Inc. (NASDAQ:RUN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 81,163 shares of the energy company’s stock, valued at approximately $1,403,000.

Other large investors have also recently added to or reduced their stakes in the company. Sylebra Capital LLC lifted its holdings in Sunrun by 23.8% during the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company’s stock worth $48,482,000 after buying an additional 1,590,169 shares in the last quarter. Maple Rock Capital Partners Inc. increased its position in shares of Sunrun by 95.6% during the second quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock worth $66,525,000 after acquiring an additional 3,974,464 shares during the period. PGGM Investments raised its stake in shares of Sunrun by 316.6% in the second quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock valued at $57,319,000 after acquiring an additional 5,325,332 shares in the last quarter. Amundi raised its stake in shares of Sunrun by 12.1% in the first quarter. Amundi now owns 3,479,021 shares of the energy company’s stock valued at $20,686,000 after acquiring an additional 374,594 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Sunrun by 17.5% in the first quarter. Northern Trust Corp now owns 2,764,452 shares of the energy company’s stock valued at $16,200,000 after purchasing an additional 410,800 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on RUN. Jefferies Financial Group upgraded Sunrun from a “hold” rating to a “buy” rating and upped their price target for the stock from $11.00 to $21.00 in a report on Wednesday, October 1st. Zacks Research downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Morgan Stanley upped their target price on shares of Sunrun from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Citigroup raised shares of Sunrun from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $26.00 in a report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sunrun in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.58.

Insider Transactions at Sunrun

In related news, insider Jeanna Steele sold 21,037 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $20.25, for a total value of $425,999.25. Following the completion of the sale, the insider directly owned 366,264 shares of the company’s stock, valued at $7,416,846. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $19.31, for a total transaction of $965,500.00. Following the completion of the transaction, the director owned 850,482 shares of the company’s stock, valued at $16,422,807.42. This represents a 5.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 445,536 shares of company stock worth $8,579,156. Insiders own 3.37% of the company’s stock.

Sunrun Stock Performance

Shares of RUN opened at $19.73 on Tuesday. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of -1.76 and a beta of 2.35. Sunrun Inc. has a 52-week low of $5.38 and a 52-week high of $22.44. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 3.67. The stock has a 50 day moving average price of $19.03 and a 200 day moving average price of $15.49.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $724.56 million for the quarter, compared to analysts’ expectations of $601.15 million. Sunrun had a negative net margin of 106.50% and a positive return on equity of 19.34%. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.37) earnings per share. Research analysts predict that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.