Accelerant (NYSE:ARX) CEO Jeffrey Radke Sells 80,000 Shares

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of Accelerant stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.33, for a total value of $1,066,400.00. Following the transaction, the chief executive officer directly owned 28,021,939 shares in the company, valued at approximately $373,532,446.87. The trade was a 0.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Trading Up 1.4%

Shares of Accelerant stock opened at $13.43 on Wednesday. The company has a market capitalization of $2.93 billion and a P/E ratio of -1.93. The stock has a fifty day simple moving average of $14.19 and a 200 day simple moving average of $13.64. Accelerant Holdings has a 12-month low of $9.18 and a 12-month high of $31.18. 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 (NYSE:ARX) last issued its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The business had revenue of $273.20 million for the quarter. The business’s revenue was up 53.5% on a year-over-year basis. On average, sell-side analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Accelerant

A number of large investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in Accelerant in the first quarter valued at about $28,000. Quarry LP purchased a new position in Accelerant in the third quarter valued at approximately $40,000. PNC Financial Services Group Inc. purchased a new position in Accelerant in the third quarter valued at approximately $42,000. CWM LLC bought a new position in Accelerant during the fourth quarter valued at $109,000. Finally, Royal Bank of Canada increased its position in Accelerant by 50.3% in the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after buying an additional 2,585 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen reduced their price objective on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Wells Fargo & Company lifted their target price on shares of Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Citizens Jmp cut their target price on Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. BMO Capital Markets upped their target price on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, June 16th. Finally, Raymond James Financial increased their price target on Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.70.

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.