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

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $12.87, for a total transaction of $1,029,600.00. Following the completion of the sale, the chief executive officer owned 28,101,939 shares of the company’s stock, valued at $361,671,954.93. This trade represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Performance

NYSE:ARX opened at $11.70 on Wednesday. The company has a market cap of $2.55 billion and a P/E ratio of -1.68. Accelerant Holdings has a twelve month low of $9.18 and a twelve month high of $31.18. The company’s 50-day moving average price is $14.32 and its 200-day moving average price is $13.71. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17.

Accelerant (NYSE:ARX) last announced its quarterly earnings data 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 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 revenue was up 53.5% on a year-over-year basis. On average, sell-side analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARX has been the subject of several recent research reports. Piper Sandler increased their price target on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. UBS Group set a $16.00 price objective on Accelerant in a research note on Thursday, May 21st. TD Cowen dropped their target price on Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 26th. BMO Capital Markets raised 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. Finally, Citizens Jmp reduced their price target on Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. Ten investment 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. According to MarketBeat.com, Accelerant has a consensus rating of “Moderate Buy” and a consensus price target of $18.90.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Militia Capital Management LLC acquired a new stake in Accelerant during the first quarter worth $2,004,000. Royal Bank of Canada grew its holdings in shares of Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,585 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Accelerant during the 1st quarter worth $137,000. SummitTX Capital L.P. increased its position in shares of Accelerant by 11.0% during the 1st quarter. SummitTX Capital L.P. now owns 62,999 shares of the technology company’s stock worth $842,000 after purchasing an additional 6,219 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Accelerant during the 1st quarter worth about $239,000.

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.