Accelerant (NYSE:ARX) Trading 6.1% Higher – What’s Next?

Accelerant Holdings (NYSE:ARX) shares were up 6.1% on Monday . The company traded as high as $13.39 and last traded at $13.4150. 517,970 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,427,982 shares. The stock had previously closed at $12.64.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARX. TD Cowen decreased their price target on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Wells Fargo & Company decreased their target price on Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Citizens Jmp dropped their price target on Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. UBS Group set a $16.00 price objective on Accelerant in a report on Thursday, May 21st. Finally, Morgan Stanley cut their target price on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.60.

Accelerant Trading Down 4.7%

The firm has a 50-day simple moving average of $14.15 and a 200-day simple moving average of $13.52. 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 stock has a market cap of $2.78 billion and a PE ratio of -1.82.

Accelerant (NYSE:ARX) last announced its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share 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 company’s revenue was up 53.5% compared to the same quarter last year. Equities analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current year.

Insider Activity at Accelerant

In other news, CEO Jeffrey L. Radke sold 80,000 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $13.18, for a total transaction of $1,054,400.00. Following the completion of the transaction, the chief executive officer directly owned 27,941,939 shares in the company, valued at $368,274,756.02. The trade was a 0.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Hasley sold 35,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total transaction of $458,850.00. Following the completion of the transaction, the director directly owned 1,362,323 shares in the company, valued at approximately $17,860,054.53. The trade was a 2.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 575,500 shares of company stock valued at $7,552,184. Corporate insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

Several large investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new position in Accelerant in the 1st quarter worth about $28,000. Quarry LP bought a new stake in shares of Accelerant during the 3rd quarter valued at about $40,000. PNC Financial Services Group Inc. bought a new stake in shares of Accelerant during the 3rd quarter valued at about $42,000. Royal Bank of Canada grew its holdings in shares of Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,585 shares in the last quarter. Finally, CWM LLC purchased a new position in shares of Accelerant during the fourth quarter worth about $109,000.

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.