Jeffrey Radke Sells 80,000 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the 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 sale, the chief executive officer directly owned 27,941,939 shares in the company, valued at approximately $368,274,756.02. This represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Performance

Shares of NYSE:ARX opened at $12.68 on Thursday. The company has a market capitalization of $2.77 billion and a price-to-earnings ratio of -1.82. Accelerant Holdings has a 12 month low of $9.18 and a 12 month high of $31.18. The firm’s 50-day moving average is $14.15 and its 200 day moving average is $13.49. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17.

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

Institutional Investors Weigh In On Accelerant

Hedge funds have recently modified their holdings of the business. 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. Tudor Investment Corp ET AL purchased a new position in Accelerant in the third quarter valued at about $1,075,000. Jefferies Financial Group Inc. grew its stake in Accelerant by 349.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock valued at $735,000 after purchasing an additional 34,980 shares during the last quarter. Yorktown Management & Research Co Inc bought a new position in Accelerant in the fourth quarter worth about $970,000. Finally, Azora Capital LP lifted its position in shares of 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 buying an additional 1,811,976 shares during the last quarter.

Wall Street Analyst Weigh In

ARX has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their target price on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Citizens Jmp lowered their price objective on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. Piper Sandler upped their target price on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. UBS Group set a $16.00 price target on shares of Accelerant in a research note on Thursday, May 21st. Finally, Raymond James Financial increased their price objective on Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Accelerant presently has an average rating of “Moderate Buy” and an average target price of $18.60.

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.