Accelerant (NYSE:ARX) Insider Francis James Oneill Sells 89,219 Shares of Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 89,219 shares of Accelerant stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $12.41, for a total value of $1,107,207.79. Following the completion of the sale, the insider owned 6,369,290 shares of the company’s stock, valued at $79,042,888.90. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 10th, Francis James Oneill sold 63,616 shares of Accelerant stock. The shares were sold at an average price of $12.07, for a total transaction of $767,845.12.
• On Tuesday, July 28th, Francis James Oneill sold 104,647 shares of Accelerant stock. The shares were sold at an average price of $14.56, for a total transaction of $1,523,660.32.
• On Monday, July 27th, Francis James Oneill sold 110,467 shares of Accelerant stock. The stock was sold at an average price of $14.63, for a total transaction of $1,616,132.21.
• On Thursday, June 25th, Francis James Oneill sold 73,500 shares of Accelerant stock. The stock was sold at an average price of $13.06, for a total transaction of $959,910.00.
• 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 transaction 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 transaction of $931,780.56.

Accelerant Stock Up 8.4%

NYSE:ARX traded up $1.05 during trading hours on Wednesday, reaching $13.57. The company’s stock had a trading volume of 2,200,380 shares, compared to its average volume of 1,541,257. The stock has a 50 day moving average price of $13.19 and a two-hundred day moving average price of $13.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market capitalization of $2.96 billion and a P/E ratio of -1.95. Accelerant Holdings has a 12 month low of $9.18 and a 12 month high of $30.48.

Accelerant (NYSE:ARX) last announced its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue was up 53.5% on a year-over-year basis. Equities analysts predict that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Accelerant

Several hedge funds have recently made changes to their positions in the company. Militia Capital Management LLC acquired a new position in Accelerant in the 1st quarter worth approximately $2,004,000. Renaissance Technologies LLC boosted its holdings in shares of Accelerant by 280.5% in the 1st quarter. Renaissance Technologies LLC now owns 276,600 shares of the technology company’s stock valued at $3,695,000 after acquiring an additional 203,900 shares during the last quarter. UBS Group AG increased its stake in shares of Accelerant by 331.9% in the fourth quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock worth $8,758,000 after acquiring an additional 411,612 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Accelerant in the third quarter worth $1,075,000. Finally, Jefferies Financial Group Inc. raised its holdings in shares of Accelerant by 349.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock worth $735,000 after purchasing an additional 34,980 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group set a $16.00 target price on shares of Accelerant in a report on Thursday, May 21st. Morgan Stanley reduced their price objective 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. Raymond James Financial raised their target price on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Piper Sandler upped their price target on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Accelerant currently has an average rating of “Moderate Buy” and an average 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.