Sunrun Inc (RUN): Hedge Fund Sentiment Unchanged

Seeing as Sunrun Inc (NASDAQ:RUN) has gone through neutral sentiment from the entirety of the hedge funds we track, it’s easy to see that there is a sect of fund managers who were dropping their entire stakes heading into Q4. At the top of the heap, Brian Taylor’s Pine River Capital Management got rid of the largest position of all the hedgies tracked by Insider Monkey, worth an estimated $0.3 million in stock. D E Shaw, one of the biggest hedge funds in the world, also said goodbye to its stock, about $0.1 million worth.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Sunrun Inc (NASDAQ:RUN) but similarly valued. These stocks are Fiesta Restaurant Group Inc (NASDAQ:FRGI), Republic Bancorp, Inc. KY (NASDAQ:RBCAA), Chegg Inc (NYSE:CHGG), and Intrawest Resorts Holdings Inc (NYSE:SNOW). This group of stocks’ market caps are similar to RUN’s market cap.

As you can see these stocks had an average of 12.25 hedge funds with bullish positions and the average amount invested in these stocks was $66 million. That figure was $62 million in RUN’s case. Fiesta Restaurant Group Inc (NASDAQ:FRGI) is the most popular stock in this table. On the other hand Republic Bancorp, Inc. KY (NASDAQ:RBCAA) is the least popular one with only 5 bullish hedge fund positions. Sunrun Inc (NASDAQ:RUN) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard FRGI might be a better candidate to consider taking a long position in.