Accelerant (NYSE:ARX) Insider Sells $931,780.56 in Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 70,536 shares of Accelerant stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $13.21, for a total value of $931,780.56. Following the sale, the insider owned 7,126,589 shares in the company, valued at $94,142,240.69. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

• On Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The stock was sold at an average price of $13.11, for a total value of $1,002,443.04.

Accelerant Price Performance

ARX opened at $13.71 on Friday. The stock has a fifty day simple moving average of $14.39 and a two-hundred day simple moving average of $13.77. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.99 billion and a price-to-earnings ratio of -1.97. Accelerant Holdings has a 12-month low of $9.18 and a 12-month high of $31.18.

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

Institutional Investors Weigh In On Accelerant

A number of institutional investors have recently made changes to their positions in ARX. State of Wyoming bought a new stake in shares of Accelerant during the first quarter valued at approximately $28,000. Quarry LP bought a new position in Accelerant in the 3rd quarter valued at approximately $40,000. PNC Financial Services Group Inc. bought a new position in Accelerant in the 3rd quarter valued at approximately $42,000. Royal Bank of Canada increased its holdings in shares of Accelerant by 50.3% in the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,585 shares in the last quarter. Finally, CWM LLC bought a new stake in shares of Accelerant in the 4th quarter worth $109,000.

Wall Street Analyst Weigh In

ARX has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. BMO Capital Markets raised their price objective on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Morgan Stanley boosted their target price on Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Finally, UBS Group set a $16.00 target price on Accelerant in a research note on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.