Azora Capital LP Boosts Stake in Accelerant Holdings $ARX

Azora Capital LP boosted its stake in shares of Accelerant Holdings (NYSE:ARX) by 288.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,439,094 shares of the technology company’s stock after buying an additional 1,811,976 shares during the period. Accelerant accounts for about 2.5% of Azora Capital LP’s investment portfolio, making the stock its 15th biggest holding. Azora Capital LP owned approximately 1.10% of Accelerant worth $39,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ARX. Envestnet Asset Management Inc. purchased a new stake in Accelerant during the third quarter worth $165,000. PNC Financial Services Group Inc. purchased a new stake in Accelerant during the third quarter worth $42,000. JPMorgan Chase & Co. purchased a new stake in Accelerant during the third quarter worth $23,986,000. Vanguard Group Inc. purchased a new stake in Accelerant during the third quarter worth $33,482,000. Finally, CenterBook Partners LP purchased a new stake in Accelerant during the third quarter worth $5,698,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ARX shares. Piper Sandler upped their target price on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. BMO Capital Markets increased their price objective on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a report on Tuesday. Citizens Jmp decreased their price objective on Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Finally, TD Cowen decreased their price objective on Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.90.

Accelerant Stock Performance

Shares of ARX stock opened at $13.21 on Thursday. The firm has a market capitalization of $2.88 billion and a price-to-earnings ratio of -1.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The business has a fifty day moving average of $14.39 and a 200 day moving average of $13.83. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $31.18.

Accelerant (NYSE:ARX) last issued its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $273.20 million during the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The business’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, research analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current year.

Insider Transactions at Accelerant

In related news, CFO Jay Michael Green sold 50,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $12.77, for a total value of $638,500.00. Following the completion of the transaction, the chief financial officer owned 1,175,589 shares in the company, valued at $15,012,271.53. This trade represents a 4.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 66.59% of the stock is owned by company insiders.

Accelerant Profile

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.