Insider Selling: Accelerant (NYSE:ARX) CEO Sells $1,048,800.00 in Stock

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total transaction of $1,048,800.00. Following the sale, the chief executive officer directly owned 28,181,939 shares of the company’s stock, valued at $369,465,220.29. This represents a 0.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Up 5.0%

Accelerant stock opened at $13.71 on Friday. 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 52-week low of $9.18 and a 52-week high of $31.18. The firm has a 50 day moving average price of $14.39 and a two-hundred day moving average price of $13.77. The firm has a market cap of $2.99 billion and a price-to-earnings ratio of -1.97.

Accelerant (NYSE:ARX) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $273.20 million for the quarter. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. Equities analysts predict that Accelerant Holdings will post 0.73 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on ARX shares. Citizens Jmp cut their price target 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. Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Morgan Stanley upped their target price on Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. TD Cowen decreased their target price on Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Finally, BMO Capital Markets lifted their target price on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Accelerant has an average rating of “Moderate Buy” and an average target price of $18.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. acquired a new stake in Accelerant in the third quarter worth $165,000. PNC Financial Services Group Inc. acquired a new position in shares of Accelerant during the third quarter valued at about $42,000. JPMorgan Chase & Co. bought a new position in shares of Accelerant during the 3rd quarter worth about $23,986,000. Vanguard Group Inc. bought a new position in shares of Accelerant during the 3rd quarter worth about $33,482,000. Finally, TD Asset Management Inc bought a new position in shares of Accelerant during the 3rd quarter worth about $597,000.

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.