Accelerant (NYSE:ARX) CEO Jeffrey Radke Sells 80,000 Shares of Stock

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of Accelerant stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $13.18, for a total value of $1,054,400.00. Following the sale, the chief executive officer owned 27,941,939 shares in the company, valued at $368,274,756.02. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Down 4.7%

Accelerant stock opened at $12.72 on Wednesday. The company has a market capitalization of $2.78 billion and a P/E ratio of -1.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current 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 stock has a 50-day simple moving average of $14.15 and a 200-day simple moving average of $13.52.

Accelerant (NYSE:ARX) last released 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 positive return on equity of 49.99% and a negative net margin of 135.47%.The firm had revenue of $273.20 million for the quarter. The business’s revenue was up 53.5% on a year-over-year basis. Equities research analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current year.

Institutional Trading of Accelerant

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of Accelerant by 0.6% during the 4th quarter. Teacher Retirement System of Texas now owns 176,043 shares of the technology company’s stock worth $2,878,000 after buying an additional 1,043 shares in the last quarter. State of Wyoming purchased a new stake in shares of Accelerant in the first quarter valued at approximately $28,000. Royal Bank of Canada boosted its stake in shares of Accelerant by 50.3% in the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after buying an additional 2,585 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Accelerant by 73.6% during the first quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the technology company’s stock worth $82,000 after acquiring an additional 2,611 shares during the period. Finally, Quarry LP purchased a new position in Accelerant in the third quarter worth $40,000.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARX. Weiss Ratings upgraded shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. TD Cowen lowered their price objective on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Citizens Jmp dropped their price objective on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. UBS Group set a $16.00 target price on shares of Accelerant in a report on Thursday, May 21st. Finally, BMO Capital Markets increased their target price on shares of Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.60.

About Accelerant

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.