Park West Asset Management LLC Has $13.62 Million Stake in Sunrun Inc. (NASDAQ:RUN)

Park West Asset Management LLC trimmed its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,472,726 shares of the energy company’s stock after selling 89,274 shares during the period. Park West Asset Management LLC owned 0.66% of Sunrun worth $13,623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in Sunrun in the third quarter valued at approximately $44,000. Aster Capital Management DIFC Ltd bought a new position in shares of Sunrun in the fourth quarter valued at about $29,000. Newbridge Financial Services Group Inc. raised its position in shares of Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after purchasing an additional 2,000 shares during the period. Summit Securities Group LLC bought a new stake in shares of Sunrun in the fourth quarter valued at approximately $53,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Sunrun in the fourth quarter valued at approximately $56,000. 91.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RUN. Barclays cut their target price on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada decreased their price target on Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. BMO Capital Markets decreased their price target on Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Monday, March 3rd. Citigroup reissued a “neutral” rating and set a $7.00 price objective on shares of Sunrun in a research report on Thursday, April 17th. Finally, Jefferies Financial Group downgraded Sunrun from a “buy” rating to a “hold” rating and decreased their price target for the stock from $14.00 to $8.00 in a report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.92.

Sunrun Stock Performance

Shares of NASDAQ RUN opened at $7.50 on Tuesday. The firm’s 50-day moving average price is $6.81 and its 200-day moving average price is $9.41. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The company has a market cap of $1.70 billion, a PE ratio of -4.12 and a beta of 2.74. Sunrun Inc. has a 52-week low of $5.45 and a 52-week high of $22.26.

Insider Activity

In other news, CFO Danny Abajian sold 16,927 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the transaction, the chief financial officer now owns 231,279 shares in the company, valued at $1,558,820.46. This represents a 6.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Paul S. Dickson sold 19,343 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $130,371.82. Following the completion of the transaction, the executive now owns 399,729 shares in the company, valued at $2,694,173.46. This trade represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,540 shares of company stock valued at $1,050,944 in the last 90 days. 3.77% of the stock is currently owned by insiders.

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.