Accelerant Holdings $ARX Shares Bought by Azora Capital LP

Azora Capital LP boosted its stake in shares of Accelerant Holdings (NYSE:ARX) by 288.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,439,094 shares of the technology company’s stock after purchasing an additional 1,811,976 shares during the period. Accelerant makes up approximately 2.5% of Azora Capital LP’s portfolio, making the stock its 15th biggest holding. Azora Capital LP’s holdings in Accelerant were worth $39,879,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARX. Security Benefit Life Insurance Co. KS acquired a new stake in Accelerant during the 3rd quarter worth about $80,797,000. Capital World Investors acquired a new stake in Accelerant during the 3rd quarter worth about $85,666,000. Barings LLC acquired a new stake in Accelerant during the 3rd quarter worth about $46,370,000. Alliancebernstein L.P. acquired a new stake in Accelerant during the 3rd quarter worth about $41,529,000. Finally, Vanguard Group Inc. acquired a new stake in Accelerant during the 3rd quarter worth about $33,482,000.

Accelerant Price Performance

NYSE:ARX opened at $13.21 on Thursday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. Accelerant Holdings has a 52 week low of $9.18 and a 52 week high of $31.18. The stock has a market capitalization of $2.88 billion and a PE ratio of -1.90. The stock’s 50-day moving average price is $14.39 and its 200-day moving average price is $13.83.

Accelerant (NYSE:ARX) last posted 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 positive return on equity of 49.99% and a negative net margin of 135.47%.The company had revenue of $273.20 million for the quarter. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, equities analysts expect that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Insider Transactions at Accelerant

In related news, CFO Jay Michael Green sold 50,000 shares of Accelerant stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $12.77, for a total value of $638,500.00. Following the sale, the chief financial officer directly owned 1,175,589 shares in the company, valued at approximately $15,012,271.53. The trade was a 4.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 66.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARX. Wells Fargo & Company increased their price target on Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. UBS Group set a $16.00 price target on Accelerant in a research report on Thursday, May 21st. Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. 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 report on Tuesday. Finally, Citizens Jmp cut 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. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.90.

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.