Redwood Grove Capital LLC Purchases 147,642 Shares of Ameresco, Inc. (NYSE:AMRC)

Redwood Grove Capital LLC raised its stake in Ameresco, Inc. (NYSE:AMRC - Free Report) by 41.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 499,890 shares of the utilities provider's stock after buying an additional 147,642 shares during the period. Ameresco makes up approximately 5.2% of Redwood Grove Capital LLC's holdings, making the stock its 8th largest holding. Redwood Grove Capital LLC owned about 0.95% of Ameresco worth $18,966,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Clayton Partners LLC increased its stake in shares of Ameresco by 117.8% during the 2nd quarter. Clayton Partners LLC now owns 77,735 shares of the utilities provider's stock worth $2,240,000 after purchasing an additional 42,052 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Ameresco during the 2nd quarter worth approximately $2,048,000. Bank of New York Mellon Corp increased its stake in shares of Ameresco by 24.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,427 shares of the utilities provider's stock worth $3,729,000 after purchasing an additional 25,121 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Ameresco by 1,215.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider's stock worth $90,000 after purchasing an additional 2,880 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Ameresco during the 2nd quarter worth approximately $10,821,000. 99.24% of the stock is owned by hedge funds and other institutional investors.

Ameresco Stock Down 1.9 %

Ameresco stock traded down $0.54 during trading on Thursday, reaching $27.30. 239,528 shares of the company's stock were exchanged, compared to its average volume of 465,274. The company's 50-day moving average is $30.82 and its two-hundred day moving average is $31.24. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. Ameresco, Inc. has a 52-week low of $17.55 and a 52-week high of $39.68. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 0.97 and a beta of 1.76.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMRC. Stifel Nicolaus raised their price objective on shares of Ameresco from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Jefferies Financial Group began coverage on shares of Ameresco in a research note on Wednesday, September 4th. They set a "hold" rating and a $33.00 price objective for the company. UBS Group raised their price objective on shares of Ameresco from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, September 5th. StockNews.com upgraded shares of Ameresco to a "sell" rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird raised their target price on shares of Ameresco from $32.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.91.

About Ameresco

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, Europe, and internationally. It operates through U.S. Regions, U.S. Federal, Canada, Europe, Alternative Fuels, and All Other segments. The company offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.