Point72 Asset Management L.P. Acquires New Stake in Vivint Solar Inc (VSLR)

Point72 Asset Management L.P. acquired a new position in Vivint Solar Inc (NYSE:VSLR) during the second quarter, Holdings Channel reports. The fund acquired 178,552 shares of the company’s stock, valued at approximately $884,000.

Several other hedge funds have also made changes to their positions in VSLR. Millennium Management LLC acquired a new position in Vivint Solar during the first quarter worth $1,969,000. Bank of America Corp DE increased its holdings in Vivint Solar by 1,965.0% during the second quarter. Bank of America Corp DE now owns 562,550 shares of the company’s stock worth $2,784,000 after buying an additional 535,308 shares during the last quarter. BlackRock Inc. increased its holdings in Vivint Solar by 15.8% during the second quarter. BlackRock Inc. now owns 1,986,795 shares of the company’s stock worth $9,834,000 after buying an additional 270,923 shares during the last quarter. Perella Weinberg Partners Capital Management LP acquired a new position in Vivint Solar during the second quarter worth $674,000. Finally, JPMorgan Chase & Co. increased its holdings in Vivint Solar by 402.4% during the first quarter. JPMorgan Chase & Co. now owns 82,527 shares of the company’s stock worth $301,000 after buying an additional 66,101 shares during the last quarter. 88.05% of the stock is currently owned by institutional investors and hedge funds.

NYSE:VSLR opened at $5.05 on Monday. Vivint Solar Inc has a one year low of $2.70 and a one year high of $6.15. The firm has a market capitalization of $598.92 million, a price-to-earnings ratio of -3.20 and a beta of -0.45. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.68 and a current ratio of 1.77.

Vivint Solar (NYSE:VSLR) last released its quarterly earnings results on Tuesday, August 7th. The company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.30). Vivint Solar had a net margin of 67.35% and a negative return on equity of 36.77%. The business had revenue of $80.80 million during the quarter, compared to analyst estimates of $91.30 million. analysts predict that Vivint Solar Inc will post -0.05 earnings per share for the current fiscal year.

In related news, COO Bryan Christiansen sold 24,400 shares of the company’s stock in a transaction dated Friday, July 6th. The shares were sold at an average price of $5.15, for a total value of $125,660.00. Following the transaction, the chief operating officer now directly owns 247,852 shares in the company, valued at $1,276,437.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dana C. Russell sold 46,425 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $4.91, for a total transaction of $227,946.75. Following the completion of the transaction, the chief financial officer now owns 444,302 shares in the company, valued at $2,181,522.82. The disclosure for this sale can be found here. Insiders sold 208,003 shares of company stock worth $1,052,879 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

A number of brokerages recently weighed in on VSLR. Bank of America boosted their target price on shares of Vivint Solar from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. ValuEngine upgraded shares of Vivint Solar from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. JMP Securities upgraded shares of Vivint Solar from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 8th. Zacks Investment Research downgraded shares of Vivint Solar from a “hold” rating to a “sell” rating in a report on Saturday, August 11th. Finally, Guggenheim upgraded shares of Vivint Solar from a “neutral” rating to a “buy” rating in a report on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.50.

About Vivint Solar

Vivint Solar, Inc provides distributed solar energy to residential, commercial, and industrial customers in the United States. The company operates in two segments, Residential, and Commercial and Industrial. 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.

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

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