Panagora Asset Management Inc. Purchases Shares of 41,203 Vivint Solar Inc (NYSE:VSLR)

Panagora Asset Management Inc. purchased a new stake in Vivint Solar Inc (NYSE:VSLR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,203 shares of the company’s stock, valued at approximately $301,000.

A number of other hedge funds also recently bought and sold shares of VSLR. Delek Group Ltd. grew its position in Vivint Solar by 86.9% during the 2nd quarter. Delek Group Ltd. now owns 1,408,229 shares of the company’s stock worth $10,043,000 after acquiring an additional 654,896 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Vivint Solar by 108.1% in the second quarter. Alps Advisors Inc. now owns 68,339 shares of the company’s stock worth $499,000 after buying an additional 35,495 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Vivint Solar by 169.2% in the second quarter. JPMorgan Chase & Co. now owns 517,839 shares of the company’s stock worth $3,780,000 after buying an additional 325,507 shares in the last quarter. Swiss National Bank raised its position in shares of Vivint Solar by 23.5% in the second quarter. Swiss National Bank now owns 77,700 shares of the company’s stock worth $567,000 after buying an additional 14,800 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Vivint Solar by 28.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 36,057 shares of the company’s stock worth $263,000 after buying an additional 7,981 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

In other Vivint Solar news, Director Todd R. Pedersen sold 100,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $6.97, for a total transaction of $697,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Bywater sold 19,920 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $7.95, for a total transaction of $158,364.00. Following the transaction, the chief executive officer now directly owns 1,098,432 shares of the company’s stock, valued at approximately $8,732,534.40. The disclosure for this sale can be found here. Insiders sold a total of 422,544 shares of company stock valued at $3,220,147 in the last ninety days. 4.10% of the stock is currently owned by insiders.

A number of equities research analysts have weighed in on the company. Oppenheimer set a $11.00 price target on Vivint Solar and gave the company a “buy” rating in a research report on Friday, August 9th. KeyCorp assumed coverage on Vivint Solar in a research report on Monday, August 19th. They set an “overweight” rating and a $12.00 price target on the stock. Finally, Bank of America raised their price target on Vivint Solar from $12.50 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Vivint Solar presently has an average rating of “Buy” and an average target price of $11.25.

Shares of VSLR traded up $0.13 during mid-day trading on Friday, reaching $7.52. The company had a trading volume of 374,517 shares, compared to its average volume of 1,241,884. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.85 and a current ratio of 0.89. The firm has a 50-day moving average price of $8.02 and a 200 day moving average price of $6.70. Vivint Solar Inc has a 52 week low of $3.55 and a 52 week high of $9.82. The company has a market capitalization of $865.93 million, a price-to-earnings ratio of -3.16 and a beta of 0.37.

Vivint Solar (NYSE:VSLR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.17). The company had revenue of $90.80 million during the quarter, compared to the consensus estimate of $91.92 million. Vivint Solar had a negative return on equity of 97.07% and a negative net margin of 25.06%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.50) earnings per share. As a group, research analysts forecast that Vivint Solar Inc will post -2.66 earnings per share for the current fiscal year.

About Vivint Solar

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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Institutional Ownership by Quarter for Vivint Solar (NYSE:VSLR)

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