Migdal Insurance & Financial Holdings Ltd. Invests $45,000 in Sunrun Inc. (NASDAQ:RUN)

Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Sunrun Inc. (NASDAQ:RUN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 3,800 shares of the energy company’s stock, valued at approximately $45,000.

Several other hedge funds have also recently added to or reduced their stakes in RUN. Truist Financial Corp acquired a new position in shares of Sunrun in the fourth quarter valued at approximately $307,000. Russell Investments Group Ltd. raised its holdings in shares of Sunrun by 45.8% in the fourth quarter. Russell Investments Group Ltd. now owns 389,236 shares of the energy company’s stock valued at $7,641,000 after purchasing an additional 122,286 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of Sunrun by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock worth $5,340,000 after purchasing an additional 833 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Sunrun by 7.9% during the fourth quarter. Van ECK Associates Corp now owns 263,138 shares of the energy company’s stock worth $5,166,000 after purchasing an additional 19,288 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in Sunrun by 62.1% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 41,100 shares of the energy company’s stock valued at $807,000 after buying an additional 15,747 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Performance

Shares of RUN traded up $0.16 on Friday, reaching $20.29. The company’s stock had a trading volume of 1,412,200 shares, compared to its average volume of 12,998,648. The stock’s 50 day simple moving average is $16.60 and its two-hundred day simple moving average is $13.85. 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 stock has a market capitalization of $4.50 billion, a P/E ratio of -3.02 and a beta of 2.61. Sunrun Inc. has a 12-month low of $8.43 and a 12-month high of $22.26.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. The business had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. Sunrun’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. Research analysts forecast that Sunrun Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

RUN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research report on Thursday, August 8th. Barclays boosted their price objective on shares of Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group raised their price objective on Sunrun from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Morgan Stanley raised their target price on Sunrun from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Truist Financial reaffirmed a “hold” rating and issued a $18.00 price objective (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.98.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 2,299 shares of Sunrun stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $14.44, for a total value of $33,197.56. Following the sale, the insider now directly owns 315,287 shares of the company’s stock, valued at $4,552,744.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jeanna Steele sold 2,299 shares of Sunrun stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $14.44, for a total value of $33,197.56. Following the completion of the transaction, the insider now owns 315,287 shares in the company, valued at approximately $4,552,744.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $14.06, for a total value of $703,000.00. Following the sale, the director now owns 1,395,297 shares in the company, valued at approximately $19,617,875.82. The disclosure for this sale can be found here. Insiders sold a total of 277,929 shares of company stock valued at $4,187,789 over the last 90 days. Company insiders own 3.76% of the company’s stock.

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.