Accelerant (NYSE:ARX) Trading Down 6.6% – Time to Sell?

Accelerant Holdings (NYSE:ARX)’s stock price fell 6.6% during mid-day trading on Monday . The company traded as low as $12.86 and last traded at $12.8350. Approximately 430,312 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,379,681 shares. The stock had previously closed at $13.74.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARX. Raymond James Financial raised 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. Piper Sandler boosted their price objective on 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 Accelerant in a research note on Thursday, May 21st. Citizens Jmp cut their price target on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. Finally, TD Cowen reduced their price target on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Accelerant currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.90.

Accelerant Trading Down 7.4%

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 company has a market capitalization of $2.55 billion and a P/E ratio of -1.68. The business has a fifty day moving average price of $14.32 and a 200 day moving average price of $13.71.

Accelerant (NYSE:ARX) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $273.20 million during the quarter. The company’s revenue was up 53.5% compared to the same quarter last year. On average, analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Francis James Oneill sold 76,464 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total value of $1,002,443.04. Following the completion of the transaction, the insider owned 7,050,125 shares of the company’s stock, valued at approximately $92,427,138.75. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey L. Radke sold 80,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer directly owned 28,101,939 shares of the company’s stock, valued at approximately $361,671,954.93. This trade represents a 0.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 415,500 shares of company stock valued at $5,431,384 in the last quarter. 66.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Accelerant

A number of large investors have recently modified their holdings of the business. Security Benefit Life Insurance Co. KS acquired a new stake in shares of Accelerant in the third quarter valued at about $80,797,000. Capital World Investors acquired a new position in Accelerant during the third quarter valued at approximately $85,666,000. Alliancebernstein L.P. bought a new position in Accelerant in the third quarter valued at approximately $41,529,000. Vanguard Group Inc. bought a new position in Accelerant in the third quarter valued at approximately $33,482,000. Finally, Deer Park Road Corp acquired a new position in shares of Accelerant during the 3rd quarter worth approximately $29,692,000.

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.