Insider Selling: Accelerant (NYSE:ARX) Insider Sells $931,780.56 in Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 70,536 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $13.21, for a total transaction of $931,780.56. Following the sale, the insider directly owned 7,126,589 shares of the company’s stock, valued at approximately $94,142,240.69. This represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, 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 transaction of $1,002,443.04.

Accelerant Stock Performance

NYSE ARX traded up $0.21 during trading hours on Wednesday, reaching $13.34. The company’s stock had a trading volume of 1,732,079 shares, compared to its average volume of 1,343,900. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $14.39 and a 200 day simple moving average of $13.78. Accelerant Holdings has a 52 week low of $9.18 and a 52 week high of $31.18. The stock has a market cap of $2.91 billion and a PE ratio of -1.91.

Accelerant (NYSE:ARX) last posted its earnings results on Wednesday, May 13th. The technology company reported $0.17 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 positive return on equity of 49.99% and a negative net margin of 135.47%.The firm’s revenue was up 53.5% compared to the same quarter last year. Equities research analysts predict that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accelerant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARX. State of Wyoming acquired a new stake in Accelerant in the 1st quarter valued at approximately $28,000. Quarry LP bought a new stake in Accelerant during the 3rd quarter valued at $40,000. PNC Financial Services Group Inc. acquired a new position in Accelerant during the 3rd quarter worth $42,000. Royal Bank of Canada boosted its position in 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 acquiring an additional 2,585 shares during the period. Finally, CWM LLC bought a new position in shares of Accelerant in the fourth quarter worth $109,000.

Analyst Ratings Changes

Several brokerages have weighed in on ARX. BMO Capital Markets increased their target price on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Piper Sandler boosted their price target on shares of Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Morgan Stanley upped their price target on shares of Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. TD Cowen dropped their price objective on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, Weiss Ratings upgraded shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Ten equities 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, Accelerant has an average rating of “Moderate Buy” and an average price target of $18.90.

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.