Insider Selling: Accelerant (NYSE:ARX) Insider Sells $767,845.12 in Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 63,616 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $12.07, for a total transaction of $767,845.12. Following the completion of the sale, the insider directly owned 6,458,509 shares in the company, valued at $77,954,203.63. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, August 11th, Francis James Oneill sold 89,219 shares of Accelerant stock. The stock was sold at an average price of $12.41, for a total transaction of $1,107,207.79.
• 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 value of $1,523,660.32.
• On Monday, July 27th, Francis James Oneill sold 110,467 shares of Accelerant stock. The shares were sold at an average price of $14.63, for a total value 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 value of $959,910.00.
• On Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The stock was sold at an average price of $13.11, for a total value 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 value of $931,780.56.

Accelerant Trading Up 8.4%

ARX traded up $1.05 during trading hours on Wednesday, reaching $13.57. 2,200,380 shares of the company’s stock traded hands, compared to its average volume of 1,541,257. The firm has a 50-day moving average price of $13.19 and a 200 day moving average price of $13.12. Accelerant Holdings has a 52-week low of $9.18 and a 52-week high of $30.48. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.96 billion and a PE ratio of -1.95.

Accelerant (NYSE:ARX) last announced its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate 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 company had revenue of $273.20 million for the quarter. The firm’s revenue was up 53.5% on a year-over-year basis. As a group, sell-side analysts predict that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ARX has been the topic of a number of research analyst reports. Raymond James Financial upped their target price on shares of Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Wells Fargo & Company decreased their target price on shares of Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. BMO Capital Markets raised their target price on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Finally, UBS Group set a $16.00 price target on shares of Accelerant in a report on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Accelerant presently has a consensus rating of “Moderate Buy” and an average price target of $18.60.

Institutional Investors Weigh In On Accelerant

Large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. acquired a new position in shares of Accelerant during the third quarter valued at about $165,000. PNC Financial Services Group Inc. purchased a new position in shares of Accelerant in the 3rd quarter valued at approximately $42,000. Vanguard Group Inc. acquired a new stake in Accelerant in the 3rd quarter worth approximately $33,482,000. Jefferies Financial Group Inc. acquired a new stake in Accelerant in the 3rd quarter worth approximately $149,000. Finally, Legal & General Group Plc purchased a new stake in Accelerant during the 3rd quarter worth approximately $149,000.

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.