Accelerant (NYSE:ARX) Insider Francis James Oneill Sells 70,536 Shares of Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 70,536 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $13.21, for a total transaction of $931,780.56. Following the completion of the sale, the insider directly owned 7,126,589 shares of the company’s stock, valued at $94,142,240.69. The trade was a 0.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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.

Accelerant Price Performance

Shares of ARX stock traded up $0.21 during midday trading on Wednesday, reaching $13.34. 1,732,079 shares of the company were exchanged, compared to its average volume of 1,343,900. Accelerant Holdings has a 12 month low of $9.18 and a 12 month high of $31.18. The company has a market cap of $2.91 billion and a P/E ratio of -1.91. The company’s 50 day moving average price is $14.39 and its two-hundred day moving average price is $13.78. 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 (NYSE:ARX) last issued its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $273.20 million during the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. On average, sell-side analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Raymond James Financial upped their target price on Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. BMO Capital Markets lifted their price target on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. TD Cowen dropped their price objective on Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Wells Fargo & Company upped their price objective on Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, Piper Sandler upped their price objective on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.90.

Institutional Trading of Accelerant

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Security Benefit Life Insurance Co. KS acquired a new stake in Accelerant during the 3rd quarter worth about $80,797,000. Capital World Investors acquired a new position in shares of Accelerant in the 3rd quarter valued at about $85,666,000. Alliancebernstein L.P. acquired a new position in shares of Accelerant in the 3rd quarter valued at about $41,529,000. Vanguard Group Inc. purchased a new stake in shares of Accelerant in the third quarter worth approximately $33,482,000. Finally, Deer Park Road Corp purchased a new stake in shares of Accelerant in the third quarter worth approximately $29,692,000.

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.