Accelerant (NYSE:ARX) Director Sells $458,850.00 in Stock

Accelerant Holdings (NYSE:ARX) Director Nancy Hasley sold 35,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total transaction of $458,850.00. Following the completion of the transaction, the director directly owned 1,362,323 shares of the company’s stock, valued at approximately $17,860,054.53. This represents a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Performance

ARX traded down $0.30 on Thursday, reaching $13.07. 3,087,372 shares of the stock were exchanged, compared to its average volume of 1,333,244. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. Accelerant Holdings has a fifty-two week low of $9.18 and a fifty-two week high of $31.18. The firm has a market capitalization of $2.85 billion and a PE ratio of -1.88. The company’s 50-day moving average price is $14.39 and its 200 day moving average price is $13.77.

Accelerant (NYSE:ARX) last posted its quarterly 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. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company had revenue of $273.20 million during the quarter. Accelerant’s revenue was up 53.5% on a year-over-year basis. As a group, sell-side analysts forecast that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Institutional Trading of Accelerant

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in shares of Accelerant in the 1st quarter valued at $28,000. Quarry LP purchased a new stake in shares of Accelerant during the third quarter worth $40,000. PNC Financial Services Group Inc. purchased a new stake in Accelerant during the 3rd quarter worth about $42,000. CWM LLC purchased a new stake in shares of Accelerant during the fourth quarter worth approximately $109,000. Finally, Royal Bank of Canada raised its holdings in shares of Accelerant by 50.3% in the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,585 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently commented on ARX shares. BMO Capital Markets raised their price target on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. Wells Fargo & Company increased their price objective on Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. TD Cowen lowered their target price on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, Piper Sandler upped their price objective on shares of Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.90.

Accelerant Company 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.