Accelerant (NYSE:ARX) CEO Sells $964,800.00 in Stock

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $12.06, for a total value of $964,800.00. Following the sale, the chief executive officer owned 27,671,939 shares in the company, valued at approximately $333,723,584.34. This trade represents a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Performance

NYSE ARX opened at $12.28 on Friday. Accelerant Holdings has a fifty-two week low of $9.18 and a fifty-two week high of $30.48. The stock has a market cap of $2.68 billion and a price-to-earnings ratio of -1.76. The business has a fifty day moving average of $13.40 and a 200-day moving average of $13.17. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17.

Accelerant (NYSE:ARX) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $273.20 million for the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. As a group, analysts predict that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARX. Citizens Jmp cut their price objective on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. UBS Group set a $16.00 target price on shares of Accelerant in a research report on Thursday, May 21st. Morgan Stanley lowered their target price on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, July 6th. Wells Fargo & Company cut their price target on Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Raymond James Financial increased their price target on Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.60.

Institutional Investors Weigh In On Accelerant

A number of institutional investors have recently bought and sold shares of ARX. Militia Capital Management LLC purchased a new position in Accelerant during the first quarter worth approximately $2,004,000. UBS Group AG grew its stake in shares of Accelerant by 331.9% during the 4th quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock valued at $8,758,000 after buying an additional 411,612 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Accelerant during the 3rd quarter worth $1,075,000. Jefferies Financial Group Inc. increased its holdings in shares of Accelerant by 349.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock worth $735,000 after buying an additional 34,980 shares during the last quarter. Finally, Azora Capital LP raised its position in shares of Accelerant by 288.9% in the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock worth $39,879,000 after buying an additional 1,811,976 shares during the period.

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.