California Public Employees Retirement System bought a new position in Vivint Solar Inc (NYSE:VSLR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 28,632 shares of the company’s stock, valued at approximately $109,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. grew its holdings in Vivint Solar by 55.1% in the 4th quarter. Alps Advisors Inc. now owns 21,158 shares of the company’s stock valued at $81,000 after buying an additional 7,515 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vivint Solar by 41.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,613 shares of the company’s stock worth $98,000 after acquiring an additional 7,534 shares during the period. Rhumbline Advisers lifted its position in shares of Vivint Solar by 46.7% in the 4th quarter. Rhumbline Advisers now owns 43,243 shares of the company’s stock worth $165,000 after acquiring an additional 13,769 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of Vivint Solar by 24.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 75,311 shares of the company’s stock worth $392,000 after acquiring an additional 14,697 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Vivint Solar by 0.9% in the 3rd quarter. BlackRock Inc. now owns 2,004,278 shares of the company’s stock worth $10,423,000 after acquiring an additional 17,483 shares during the period. 91.72% of the stock is currently owned by institutional investors and hedge funds.
VSLR traded up $0.36 during trading on Friday, hitting $5.83. The company’s stock had a trading volume of 445,733 shares, compared to its average volume of 655,333. The company has a debt-to-equity ratio of 3.32, a quick ratio of 1.59 and a current ratio of 1.67. Vivint Solar Inc has a 12 month low of $3.55 and a 12 month high of $7.44. The company has a market cap of $703.17 million, a price-to-earnings ratio of -2.45 and a beta of 0.53.
In other news, CEO David Bywater sold 21,700 shares of Vivint Solar stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $4.62, for a total value of $100,254.00. Following the completion of the sale, the chief executive officer now directly owns 1,304,697 shares of the company’s stock, valued at approximately $6,027,700.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dana C. Russell sold 36,275 shares of Vivint Solar stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $4.66, for a total value of $169,041.50. Following the completion of the sale, the chief financial officer now directly owns 470,549 shares of the company’s stock, valued at $2,192,758.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,678 shares of company stock valued at $696,224. Corporate insiders own 4.20% of the company’s stock.
A number of analysts have commented on VSLR shares. Citigroup started coverage on Vivint Solar in a research report on Monday, January 7th. They issued a “neutral” rating and a $4.25 price objective for the company. Zacks Investment Research upgraded Vivint Solar from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. ValuEngine upgraded Vivint Solar from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. JMP Securities restated a “buy” rating and set a $12.00 target price on shares of Vivint Solar in a research report on Wednesday, March 6th. Finally, Bank of America raised their target price on Vivint Solar from $9.50 to $10.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $8.75.
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Vivint Solar Profile
Vivint Solar, Inc provides distributed solar energy primarily to residential customers in the United States. It owns and installs solar energy systems through long-term customer contracts. The company also sells photovoltaic installation products, as well as solar renewable energy certificates. As of December 31, 2018, it had an aggregate capacity of 1,060.9 megawatts covering approximately 154,600 homes.
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