Portolan Capital Management LLC Acquires New Position in Ameresco, Inc. $AMRC

Portolan Capital Management LLC acquired a new stake in shares of Ameresco, Inc. (NYSE:AMRC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 174,903 shares of the utilities provider’s stock, valued at approximately $5,873,000.

Several other large investors have also bought and sold shares of the company. CoreCap Advisors LLC bought a new position in shares of Ameresco in the third quarter worth approximately $50,000. Tower Research Capital LLC TRC increased its position in shares of Ameresco by 99.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 1,754 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Ameresco in the 3rd quarter worth approximately $76,000. Nkcfo LLC purchased a new position in Ameresco in the 3rd quarter worth approximately $107,000. Finally, Creative Planning bought a new position in Ameresco in the 2nd quarter valued at approximately $153,000. 99.24% of the stock is owned by hedge funds and other institutional investors.

Ameresco Stock Performance

AMRC opened at $24.73 on Friday. The company’s 50 day moving average is $30.82 and its 200 day moving average is $32.32. The company has a current ratio of 1.51, a quick ratio of 1.50 and a debt-to-equity ratio of 1.56. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.06 and a beta of 2.53. Ameresco, Inc. has a 12-month low of $8.49 and a 12-month high of $44.93.

Ameresco (NYSE:AMRC) last announced its earnings results on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $581.03 million during the quarter, compared to analysts’ expectations of $556.09 million. Ameresco had a net margin of 2.29% and a return on equity of 4.49%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 earnings per share. On average, equities research analysts predict that Ameresco, Inc. will post 1.15 EPS for the current year.

Wall Street Analysts Forecast Growth

AMRC has been the subject of a number of research analyst reports. B. Riley Financial lifted their target price on Ameresco from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Canaccord Genuity Group increased their price objective on Ameresco from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Weiss Ratings downgraded Ameresco from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Roth Mkm reissued a “buy” rating on shares of Ameresco in a research report on Wednesday, December 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Ameresco in a research note on Wednesday, March 4th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameresco currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Insider Activity at Ameresco

In related news, Director Nickolas Stavropoulos sold 15,700 shares of Ameresco stock in a transaction on Friday, February 20th. The stock was sold at an average price of $34.15, for a total transaction of $536,155.00. Following the transaction, the director directly owned 14,111 shares in the company, valued at approximately $481,890.65. The trade was a 52.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 17,020 shares of company stock valued at $577,840. Corporate insiders own 44.96% of the company’s stock.

About Ameresco

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.