Francis James Oneill Sells 73,500 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 73,500 shares of Accelerant stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $13.06, for a total transaction of $959,910.00. Following the completion of the sale, the insider owned 6,976,625 shares of the company’s stock, valued at $91,114,722.50. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

• On Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The shares were sold at an average price of $13.11, for a total value of $1,002,443.04.
• On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The stock was sold at an average price of $13.21, for a total value of $931,780.56.

Accelerant Stock Performance

Shares of Accelerant stock opened at $12.79 on Thursday. The stock has a market capitalization of $2.79 billion and a price-to-earnings ratio of -1.84. 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 50-day moving average of $14.28 and a 200 day moving average of $13.70. Accelerant Holdings has a 12 month low of $9.18 and a 12 month high of $31.18.

Accelerant (NYSE:ARX) last announced its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating 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 firm had revenue of $273.20 million during the quarter. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ARX. Piper Sandler upped their price objective on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. UBS Group set a $16.00 target price on Accelerant in a report on Thursday, May 21st. BMO Capital Markets boosted their target price on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Finally, Wells Fargo & Company increased their price target on Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.90.

Key Accelerant News

Here are the key news stories impacting Accelerant this week:

• Positive Sentiment: Accelerant announced an enhanced partnership with Lloyd’s of London through the launch of the ARX Consortium, backed by seven Lloyd’s syndicates. The move broadens its specialty risk capacity and supports a more diversified portfolio, which investors may view as a growth and credibility boost. Article Title
• Positive Sentiment: Incline P&C Group said it is deepening its partnership with Accelerant, with Incline serving as a fronting carrier for more than $500 million in annual gross written premiums across Accelerant’s U.S. commercial specialty insurance portfolio. That suggests expanding distribution and premium flow. Article Title
• Neutral Sentiment: Analyst coverage remains generally constructive, with a consensus Moderate Buy rating and a target price well above recent trading levels, which can help support sentiment but is not a fresh catalyst.

Institutional Investors Weigh In On Accelerant

Hedge funds and other institutional investors have recently modified their holdings of the company. Security Benefit Life Insurance Co. KS acquired a new stake in shares of Accelerant in the 3rd quarter valued at $80,797,000. Capital World Investors purchased a new position in Accelerant in the third quarter valued at $85,666,000. Alliancebernstein L.P. purchased a new position in Accelerant in the third quarter valued at $41,529,000. Balyasny Asset Management L.P. raised its stake in Accelerant by 35.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,733,595 shares of the technology company’s stock valued at $44,694,000 after buying an additional 714,811 shares in the last quarter. Finally, Azora Capital LP raised its stake in Accelerant by 288.9% in the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock valued at $39,879,000 after buying an additional 1,811,976 shares in the last quarter.

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.