Insider Selling: Accelerant (NYSE:ARX) Director Sells $400,764.84 in Stock

Accelerant Holdings (NYSE:ARX) Director Nancy Hasley sold 20,489 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $19.56, for a total value of $400,764.84. Following the transaction, the director owned 1,341,834 shares of the company’s stock, valued at $26,246,273.04. This represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nancy Hasley also recently made the following trade(s):

• On Tuesday, June 23rd, Nancy Hasley sold 35,000 shares of Accelerant stock. The shares were sold at an average price of $13.11, for a total value of $458,850.00.

Accelerant Price Performance

Shares of NYSE:ARX traded up $0.07 on Friday, hitting $19.59. The stock had a trading volume of 19,772,775 shares, compared to its average volume of 2,101,169. The firm’s 50 day moving average price is $13.27 and its 200-day moving average price is $13.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. Accelerant Holdings has a twelve month low of $9.18 and a twelve month high of $30.48. The company has a market capitalization of $4.27 billion and a price-to-earnings ratio of -2.81.

Accelerant (NYSE:ARX) last announced its earnings results on Thursday, August 13th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The business had revenue of $356.90 million during the quarter. On average, equities research analysts predict that Accelerant Holdings will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citizens Jmp reiterated a “market perform” rating on shares of Accelerant in a research note on Friday. Citigroup cut Accelerant from an “outperform” rating to a “market perform” rating in a report on Thursday. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. UBS Group set a $16.00 price objective on Accelerant in a research note on Thursday, May 21st. Finally, William Blair cut Accelerant from an “outperform” rating to a “market perform” rating in a report on Thursday. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.95.

Accelerant News Roundup

Here are the key news stories impacting Accelerant this week:

• Positive Sentiment: Thoma Bravo will acquire Accelerant for approximately $4 billion, with shareholders receiving $20.25 in cash per share. The all-cash offer represents a substantial premium to ARX’s pre-announcement trading level and is the primary catalyst for the stock’s surge. Reuters Thoma Bravo acquisition article
• Positive Sentiment: Accelerant’s second-quarter earnings also beat expectations: adjusted EPS was $0.32 versus the $0.16 consensus, while revenue reached $356.9 million. Results benefited from premium growth, higher fee revenue and stronger Exchange Services performance. Accelerant second-quarter earnings report
• Neutral Sentiment: ARX is trading near the proposed cash consideration, leaving relatively limited upside if the merger closes as planned. Citizens JMP reaffirmed a “market perform” rating, while William Blair downgraded the shares to “hold” or “market perform,” indicating that the deal largely resets the investment case. William Blair rating downgrade
• Negative Sentiment: Several law firms, including Kahn Swick & Foti, Ademi and Julie & Holleman, are investigating whether the $20.25 offer and sale process adequately protect public shareholders. Alleged conflicts involving controlling shareholder Altamont Capital Partners could create litigation, delay or transaction-completion risks. Kahn Swick and Foti investor investigation

Hedge Funds Weigh In On Accelerant

Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas grew its stake in shares of Accelerant by 0.6% during the fourth quarter. Teacher Retirement System of Texas now owns 176,043 shares of the technology company’s stock valued at $2,878,000 after purchasing an additional 1,043 shares during the last quarter. State of Wyoming bought a new position in Accelerant in the 1st quarter worth approximately $28,000. Royal Bank of Canada lifted its holdings in Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after buying an additional 2,585 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Accelerant by 73.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the technology company’s stock worth $82,000 after buying an additional 2,611 shares in the last quarter. Finally, Quarry LP acquired a new position in Accelerant during the 3rd quarter worth $40,000.

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.