Insider Selling: Accelerant (NYSE:ARX) Insider Sells $1,002,443.04 in Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 76,464 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total value of $1,002,443.04. Following the sale, the insider directly owned 7,050,125 shares of the company’s stock, valued at $92,427,138.75. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The shares were sold at an average price of $13.21, for a total transaction of $931,780.56.

Accelerant Price Performance

NYSE ARX opened at $13.71 on Friday. Accelerant Holdings has a fifty-two week low of $9.18 and a fifty-two week high of $31.18. The stock’s 50-day moving average is $14.39 and its two-hundred day moving average is $13.77. The firm has a market cap of $2.99 billion and a P/E ratio of -1.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61.

Accelerant (NYSE:ARX) last released its 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. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The firm had revenue of $273.20 million during the quarter. Accelerant’s revenue for the quarter was up 53.5% on a year-over-year basis. On average, analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James Financial boosted their price objective on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Citizens Jmp lowered their price objective on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Morgan Stanley raised their target price on shares of Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Finally, UBS Group set a $16.00 price target on Accelerant in a research report on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.90.

Institutional Trading of Accelerant

A number of institutional investors have recently bought and sold shares of ARX. Militia Capital Management LLC acquired a new stake in Accelerant during the first quarter worth approximately $2,004,000. Royal Bank of Canada raised its holdings in Accelerant by 50.3% in the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after acquiring an additional 2,585 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Accelerant during the 1st quarter valued at $137,000. SummitTX Capital L.P. lifted 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 valued at $842,000 after acquiring an additional 6,219 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of Accelerant during the 1st quarter worth $239,000.

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.