Accelerant Holdings (NYSE:ARX) Stock Has Average Price Target of $17.98 According to Brokerages

Accelerant Holdings (NYSE:ARX) has received an average rating of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.98.

A number of equities analysts recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. Weiss Ratings upgraded shares of Accelerant from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Piper Sandler cut shares of Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 price target on the stock. in a research note on Thursday, August 13th. Citizens Jmp cut shares of Accelerant from a “market outperform” rating to a “hold” rating in a research note on Friday, August 14th. Finally, Raymond James Financial downgraded shares of Accelerant from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 23rd.

Insider Transactions at Accelerant

In related news, Director Nancy Hasley sold 20,489 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $19.56, for a total value of $400,764.84. Following the sale, the director directly owned 1,341,834 shares in the company, valued at approximately $26,246,273.04. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Oneill sold 89,219 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $12.41, for a total value of $1,107,207.79. Following the completion of the sale, the insider owned 6,369,290 shares in the company, valued at $79,042,888.90. This represents a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 438,513 shares of company stock valued at $5,742,112. 66.59% of the stock is currently owned by insiders.

Institutional Trading of Accelerant

A number of large investors have recently added to or reduced their stakes in the company. Militia Capital Management LLC bought a new position in shares of Accelerant during the 1st quarter valued at approximately $2,004,000. Renaissance Technologies LLC increased its position in Accelerant by 280.5% in the first quarter. Renaissance Technologies LLC now owns 276,600 shares of the company’s stock worth $3,695,000 after purchasing an additional 203,900 shares during the last quarter. Engineers Gate Manager LP increased its position in Accelerant by 123.5% in the second quarter. Engineers Gate Manager LP now owns 98,354 shares of the company’s stock worth $1,153,000 after purchasing an additional 54,338 shares during the last quarter. Deer Park Road Corp bought a new stake in Accelerant in the third quarter worth $90,645,000. Finally, Bank of New York Mellon Corp bought a new stake in Accelerant in the first quarter worth $488,000.

Accelerant Trading Down 0.0%

ARX stock opened at $19.77 on Monday. Accelerant has a 1-year low of $9.18 and a 1-year high of $19.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 1.53. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -2.97 and a beta of 0.08. The business has a 50 day simple moving average of $19.75 and a two-hundred day simple moving average of $15.96.

Accelerant (NYSE:ARX) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.16. The firm had revenue of $303.90 million for the quarter. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. Research analysts anticipate that Accelerant will post 0.90 EPS for the current fiscal year.

About Accelerant

Accelerant Holdings is a technology-enabled specialty insurance platform that connects managing general agents (MGAs) with insurance and reinsurance capital providers. The company aims to help MGAs access capacity and support capital partners with data, underwriting insight and portfolio management tools.

Its services include underwriting support, risk selection, portfolio analytics and technology designed to improve the exchange of information between specialty insurance distributors and capacity providers.