TCW Group Inc. Takes Position in Sunrun Inc. (NASDAQ:RUN)

TCW Group Inc. bought a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 12,060 shares of the energy company’s stock, valued at approximately $218,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Greenvale Capital LLP grew its position in shares of Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after buying an additional 2,000,000 shares during the last quarter. State Street Corp boosted its holdings in Sunrun by 0.6% in the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after acquiring an additional 54,329 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Sunrun by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after acquiring an additional 30,549 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sunrun by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after purchasing an additional 729,633 shares during the period. Finally, Erste Asset Management GmbH bought a new position in Sunrun during the 3rd quarter worth approximately $76,152,000. 91.69% of the stock is owned by institutional investors.

Insider Transactions at Sunrun

In other Sunrun news, insider Jeanna Steele sold 2,624 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction of $42,902.40. Following the transaction, the insider now directly owns 305,636 shares in the company, valued at approximately $4,997,148.60. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total transaction of $497,000.00. Following the completion of the sale, the director now owns 1,092,446 shares of the company’s stock, valued at approximately $10,858,913.24. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 169,691 shares of company stock valued at $2,550,601 over the last three months. Corporate insiders own 3.77% of the company’s stock.

Sunrun Stock Performance

RUN opened at $10.12 on Friday. Sunrun Inc. has a 1-year low of $9.23 and a 1-year high of $22.26. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -5.56 and a beta of 2.54. The company’s fifty day moving average price is $12.63 and its two-hundred day moving average price is $15.24. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RUN shares. Oppenheimer reduced their price objective on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Barclays decreased their price target on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 price objective on shares of Sunrun in a research report on Wednesday, September 25th. Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and cut their target price for the company from $23.00 to $11.00 in a research report on Friday, November 22nd. Finally, Guggenheim downgraded Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.28.

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.