Mercer Global Advisors Inc. ADV Buys 1,485 Shares of Sunrun Inc. (NASDAQ:RUN)

Mercer Global Advisors Inc. ADV lifted its position in Sunrun Inc. (NASDAQ:RUN) by 3.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 49,762 shares of the energy company’s stock after purchasing an additional 1,485 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Sunrun were worth $600,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Sunrun during the fourth quarter valued at approximately $23,186,000. Parallel Advisors LLC boosted its stake in shares of Sunrun by 91.4% during the 4th quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock valued at $62,000 after purchasing an additional 1,513 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Sunrun during the fourth quarter valued at about $326,000. Treasurer of the State of North Carolina raised its stake in Sunrun by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock worth $1,837,000 after buying an additional 910 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Sunrun by 16.9% in the fourth quarter. Bank of Nova Scotia now owns 100,460 shares of the energy company’s stock worth $1,976,000 after buying an additional 14,513 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RUN shares. UBS Group increased their target price on Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler increased their price objective on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays boosted their target price 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. Morgan Stanley reissued an “overweight” rating and set a $35.00 price target on shares of Sunrun in a research report on Tuesday. Finally, Susquehanna boosted 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Insider Buying and Selling at Sunrun

In other news, CRO Paul S. Dickson sold 3,855 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.62, for a total value of $48,650.10. Following the transaction, the executive now owns 443,329 shares in the company, valued at approximately $5,594,811.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Paul S. Dickson sold 3,855 shares of Sunrun stock in a transaction on Monday, July 8th. The stock was sold at an average price of $12.62, for a total transaction of $48,650.10. Following the transaction, the executive now directly owns 443,329 shares in the company, valued at $5,594,811.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paul S. Dickson sold 2,537 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $46,249.51. Following the completion of the sale, the executive now owns 427,883 shares of the company’s stock, valued at approximately $7,800,307.09. The disclosure for this sale can be found here. Insiders sold a total of 178,675 shares of company stock worth $3,253,289 in the last three months. 3.76% of the stock is currently owned by company insiders.

Sunrun Stock Down 0.3 %

RUN opened at $18.50 on Friday. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of -2.77 and a beta of 2.59. The firm has a 50 day moving average price of $18.73 and a 200-day moving average price of $14.63. Sunrun Inc. has a twelve month low of $8.43 and a twelve month high of $22.26. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last released its quarterly 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 firm had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The company’s revenue was down 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. Equities research analysts forecast that Sunrun Inc. will post -0.16 earnings per share for the current year.

Sunrun 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.