Insider Selling: Accelerant (NYSE:ARX) Director Sells $458,850.00 in Stock

Accelerant Holdings (NYSE:ARX) Director Nancy Hasley sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total value of $458,850.00. Following 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 sale 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.

Accelerant Stock Performance

Shares of Accelerant stock traded down $0.30 on Thursday, hitting $13.07. The stock had a trading volume of 3,087,372 shares, compared to its average volume of 1,333,244. The stock has a market cap of $2.85 billion and a price-to-earnings ratio of -1.88. 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 Holdings has a 52-week low of $9.18 and a 52-week high of $31.18. The company’s 50 day moving average price is $14.39 and its 200 day moving average price is $13.77.

Accelerant (NYSE:ARX) last released its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $273.20 million for the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The business’s revenue was up 53.5% on a year-over-year basis. On average, research analysts anticipate that Accelerant Holdings will post 0.73 EPS for the current year.

Hedge Funds Weigh In On Accelerant

Several institutional investors and hedge funds have recently modified their holdings of ARX. Security Benefit Life Insurance Co. KS acquired a new stake in shares of Accelerant during the third quarter worth $80,797,000. Capital World Investors acquired a new stake in Accelerant during the third quarter worth about $85,666,000. Alliancebernstein L.P. purchased a new position in shares of Accelerant in the 3rd quarter worth about $41,529,000. Vanguard Group Inc. acquired a new position in Accelerant during the third quarter valued at approximately $33,482,000. Finally, Deer Park Road Corp acquired a new position in shares of Accelerant during the 3rd quarter valued at $29,692,000.

Analyst Upgrades and Downgrades

ARX has been the topic of several recent research reports. UBS Group set a $16.00 price objective on shares of Accelerant in a research note on Thursday, May 21st. Raymond James Financial increased their price target on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Weiss Ratings raised shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Citizens Jmp lowered their target price on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Finally, Piper Sandler increased their target price on shares of Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.90.

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.