Redwood Wealth Management Group LLC Makes New Investment in Sunrun Inc. (NASDAQ:RUN)

Redwood Wealth Management Group LLC purchased a new stake in shares of Sunrun Inc. (NASDAQ:RUN) during the second quarter, Holdings Channel reports. The fund purchased 4,705 shares of the energy company’s stock, valued at approximately $56,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Sunrun by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after purchasing an additional 2,743,148 shares during the last quarter. Greenvale Capital LLP boosted its holdings in shares of Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after buying an additional 1,100,000 shares during the period. Robeco Schweiz AG grew its stake in Sunrun by 23.5% in the 1st quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock valued at $60,777,000 after buying an additional 876,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Sunrun by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,781,951 shares of the energy company’s stock worth $54,617,000 after acquiring an additional 179,688 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Sunrun by 36.0% in the fourth quarter. First Trust Advisors LP now owns 2,172,728 shares of the energy company’s stock worth $42,651,000 after purchasing an additional 575,293 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Performance

Sunrun stock opened at $19.23 on Monday. The firm has a market capitalization of $4.30 billion, a P/E ratio of -2.88 and a beta of 2.59. The stock has a fifty day moving average price of $18.05 and a two-hundred day moving average price of $14.17. Sunrun Inc. has a 52-week low of $8.43 and a 52-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.

Sunrun (NASDAQ:RUN) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. The business had revenue of $523.87 million during the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. As a group, analysts anticipate that Sunrun Inc. will post -0.16 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.11, for a total transaction of $605,500.00. Following the sale, the director now directly owns 1,344,383 shares in the company, valued at approximately $16,280,478.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Sunrun news, CFO Danny Abajian sold 2,141 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $39,030.43. Following the completion of the sale, the chief financial officer now owns 276,119 shares in the company, valued at approximately $5,033,649.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $12.11, for a total transaction of $605,500.00. Following the sale, the director now directly owns 1,344,383 shares in the company, valued at $16,280,478.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,675 shares of company stock valued at $2,848,789. Corporate insiders own 3.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RUN shares. Truist Financial restated a “hold” rating and set a $18.00 target price (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. Susquehanna raised 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. Evercore ISI reduced their price target on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Finally, UBS Group increased their target price on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating 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 company’s stock. According to data from MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and an average target price of $22.98.

About Sunrun

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.