Insider Selling: Ameresco Inc (AMRC) EVP Sells 7,018 Shares of Stock

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Ameresco Inc (NYSE:AMRC) EVP David J. Corrsin sold 7,018 shares of Ameresco stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $16.50, for a total transaction of $115,797.00. Following the sale, the executive vice president now directly owns 1,043,377 shares of the company’s stock, valued at $17,215,720.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of AMRC stock traded up $0.01 on Thursday, hitting $16.34. The stock had a trading volume of 63,548 shares, compared to its average volume of 94,158. The company has a market capitalization of $750.33 million, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.12 and a beta of 0.60. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 0.58. Ameresco Inc has a 52-week low of $11.00 and a 52-week high of $18.05.

Ameresco (NYSE:AMRC) last announced its earnings results on Wednesday, March 6th. The utilities provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $217.40 million during the quarter, compared to the consensus estimate of $227.53 million. Ameresco had a net margin of 4.83% and a return on equity of 10.56%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. Equities research analysts predict that Ameresco Inc will post 0.83 EPS for the current year.

Several equities research analysts have recently issued reports on AMRC shares. B. Riley reaffirmed a “buy” rating and set a $19.00 price objective on shares of Ameresco in a research report on Thursday, March 14th. Canaccord Genuity lifted their price objective on shares of Ameresco from $16.50 to $19.50 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Zacks Investment Research raised shares of Ameresco from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, January 15th. Finally, Roth Capital raised shares of Ameresco from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $19.00 in a research report on Monday, March 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Ameresco currently has a consensus rating of “Buy” and an average target price of $18.50.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Ameresco by 508.8% during the first quarter. BNP Paribas Arbitrage SA now owns 3,945 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 3,297 shares during the period. Guinness Asset Management Ltd acquired a new stake in shares of Ameresco during the first quarter worth approximately $398,000. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Ameresco during the first quarter worth approximately $246,000. Meeder Asset Management Inc. boosted its holdings in shares of Ameresco by 134.0% during the first quarter. Meeder Asset Management Inc. now owns 4,205 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 2,408 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Ameresco by 9.5% during the fourth quarter. Deutsche Bank AG now owns 80,643 shares of the utilities provider’s stock worth $1,136,000 after purchasing an additional 7,008 shares during the period. Institutional investors own 29.88% of the company’s stock.

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About Ameresco

Ameresco, Inc provides comprehensive energy services for businesses and organizations in North America and Europe. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S. Regions, U.S.

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Insider Buying and Selling by Quarter for Ameresco (NYSE:AMRC)

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