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 business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.09, for a total value of $967,200.00. Following the completion of the sale, the chief executive officer directly owned 27,591,939 shares in the company, valued at approximately $333,586,542.51. This represents a 0.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Performance

Shares of NYSE:ARX opened at $12.51 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The business’s fifty day moving average price is $13.19 and its two-hundred day moving average price is $13.12. Accelerant Holdings has a fifty-two week low of $9.18 and a fifty-two week high of $30.48. The stock has a market capitalization of $2.73 billion and a price-to-earnings ratio of -1.79.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter. Accelerant’s revenue was up 53.5% compared to the same quarter last year. As a group, analysts predict that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Accelerant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new position in shares of Accelerant during the first quarter worth approximately $28,000. Quarry LP acquired a new stake in shares of Accelerant in the third quarter valued at approximately $40,000. PNC Financial Services Group Inc. acquired a new stake in shares of Accelerant in the third quarter valued at approximately $42,000. Royal Bank of Canada increased its holdings in shares of Accelerant by 50.3% in the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,585 shares in the last quarter. Finally, CWM LLC bought a new position in Accelerant in the 4th quarter worth approximately $109,000.

Analyst Ratings Changes

ARX has been the topic of a number of recent analyst reports. 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 research report on Tuesday, May 26th. UBS Group set a $16.00 target price on shares of Accelerant in a research note on Thursday, May 21st. Wells Fargo & Company reduced their target price on Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Raymond James Financial increased their price target on Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Finally, BMO Capital Markets raised their price target on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, June 16th. Ten 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.