Militia Capital Management LLC Makes New $2 Million Investment in Accelerant Holdings $ARX

Militia Capital Management LLC acquired a new position in Accelerant Holdings (NYSE:ARX) during the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 150,000 shares of the technology company’s stock, valued at approximately $2,004,000.

Other large investors have also recently made changes to their positions in the company. Alliancebernstein L.P. purchased a new position in shares of Accelerant during the 3rd quarter valued at about $41,529,000. Vanguard Group Inc. purchased a new stake in Accelerant in the 3rd quarter worth approximately $33,482,000. Balyasny Asset Management L.P. purchased a new stake in Accelerant in the 3rd quarter worth approximately $30,060,000. Azora Capital LP raised its stake in Accelerant by 288.9% during the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock worth $39,879,000 after acquiring an additional 1,811,976 shares during the period. Finally, Millennium Management LLC bought a new stake in Accelerant during the 3rd quarter worth approximately $12,985,000.

Insider Buying and Selling

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 transaction of $1,002,443.04. Following the completion of the transaction, the insider directly 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 legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Hasley sold 35,000 shares of Accelerant stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total transaction of $458,850.00. Following the completion of the sale, the director owned 1,362,323 shares in the company, valued at approximately $17,860,054.53. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 575,500 shares of company stock worth $7,552,184. 66.59% of the stock is owned by insiders.

Accelerant Trading Down 0.4%

ARX stock opened at $13.47 on Thursday. 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 Holdings has a 1-year low of $9.18 and a 1-year high of $31.18. The business has a 50 day simple moving average of $14.19 and a two-hundred day simple moving average of $13.38. The company has a market capitalization of $2.94 billion and a price-to-earnings ratio of -1.93.

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

Wall Street Analysts Forecast Growth

ARX has been the topic of several analyst reports. TD Cowen lowered their price target on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Citizens Jmp reduced 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 note on Monday, April 13th. BMO Capital Markets raised their price objective on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. UBS Group set a $16.00 target price on shares of Accelerant in a research note on Thursday, May 21st. Finally, 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 report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.