Insider Selling: Accelerant (NYSE:ARX) CEO Sells $1,066,400.00 in Stock

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.33, for a total transaction of $1,066,400.00. Following the completion of the transaction, the chief executive officer owned 28,021,939 shares in the company, valued at $373,532,446.87. The trade was a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Performance

Accelerant stock traded up $0.18 during trading on Tuesday, reaching $13.43. The company had a trading volume of 3,120,091 shares, compared to its average volume of 2,048,740. The firm has a market capitalization of $2.93 billion and a price-to-earnings ratio of -1.93. 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 firm’s 50-day simple moving average is $14.19 and its 200 day simple moving average is $13.64. Accelerant Holdings has a 52 week low of $9.18 and a 52 week high of $31.18.

Accelerant (NYSE:ARX) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $273.20 million for the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. Sell-side analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Accelerant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new stake in Accelerant during the third quarter worth $1,075,000. UBS Group AG increased its holdings in shares of Accelerant by 331.9% in the 4th quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock valued at $8,758,000 after acquiring an additional 411,612 shares during the period. Jefferies Financial Group Inc. raised its position in shares of Accelerant by 349.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock worth $735,000 after acquiring an additional 34,980 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in shares of Accelerant during the 4th quarter worth $970,000. Finally, Azora Capital LP boosted its position in Accelerant by 288.9% during the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock valued at $39,879,000 after purchasing an additional 1,811,976 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler raised their price objective 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. BMO Capital Markets increased their price target on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. UBS Group set a $16.00 price target on Accelerant in a report on Thursday, May 21st. Citizens Jmp dropped their price target on Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. Finally, Weiss Ratings upgraded shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.70.

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.