Accelerant (NYSE:ARX) Director Karen Sue Meriwether Sells 542 Shares of Stock

Accelerant Holdings (NYSE:ARX) Director Karen Sue Meriwether sold 542 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $19.62, for a total value of $10,634.04. Following the transaction, the director owned 20,868 shares of the company’s stock, valued at approximately $409,430.16. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Accelerant Stock Up 0.1%

Shares of NYSE:ARX opened at $19.68 on Wednesday. The company has a market capitalization of $4.27 billion and a price-to-earnings ratio of -2.96. Accelerant Holdings has a 12-month low of $9.18 and a 12-month high of $30.00. The business has a 50-day moving average price of $14.20 and a 200 day moving average price of $13.48. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.16.

Accelerant (NYSE:ARX) last posted its earnings results on Thursday, August 13th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. The company had revenue of $356.90 million for the quarter. Sell-side analysts expect that Accelerant Holdings will post 0.9 EPS for the current year.

Analyst Ratings Changes

ARX has been the subject of a number of research reports. Raymond James Financial cut Accelerant from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 17th. Citizens Jmp lowered Accelerant from a “market outperform” rating to a “hold” rating in a research note on Friday, August 14th. UBS Group set a $16.00 target price on Accelerant in a report on Thursday, May 21st. Piper Sandler downgraded Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 target price for the company. in a research report on Thursday, August 13th. Finally, Wells Fargo & Company cut their price target on shares of Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.95.

Institutional Trading of Accelerant

A number of large investors have recently modified their holdings of the stock. State of Wyoming purchased a new position in Accelerant in the first quarter valued at $28,000. Quarry LP acquired a new position in Accelerant during the 3rd quarter worth $40,000. PNC Financial Services Group Inc. purchased a new stake in Accelerant during the 3rd quarter worth about $42,000. Royal Bank of Canada increased 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 purchasing an additional 2,585 shares during the period. Finally, CWM LLC purchased a new stake in Accelerant during the 4th quarter worth about $109,000.

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.