Accelerant (NYSE:ARX) CEO Sells $1,390,255.80 in Stock

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 95,223 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $14.60, for a total transaction of $1,390,255.80. Following the completion of the sale, the chief executive officer owned 27,751,939 shares in the company, valued at $405,178,309.40. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Trading Down 9.8%

Shares of NYSE:ARX opened at $11.19 on Friday. The stock has a market capitalization of $2.44 billion and a price-to-earnings ratio of -1.61. Accelerant Holdings has a 1-year low of $9.18 and a 1-year high of $30.48. The company has a 50 day moving average price of $13.88 and a 200 day moving average price of $13.29. 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 (NYSE:ARX) last announced 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. The company had revenue of $273.20 million during the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The company’s revenue was up 53.5% on a year-over-year basis. On average, research analysts anticipate that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Accelerant

Several large investors have recently made changes to their positions in ARX. Alliancebernstein L.P. acquired a new stake in Accelerant in the 3rd quarter valued at approximately $41,529,000. Balyasny Asset Management L.P. boosted its position in shares of Accelerant by 35.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,733,595 shares of the technology company’s stock valued at $44,694,000 after acquiring an additional 714,811 shares during the period. Azora Capital LP boosted its position in shares of Accelerant by 288.9% in the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock valued at $39,879,000 after acquiring an additional 1,811,976 shares during the period. Vanguard Group Inc. acquired a new stake in shares of Accelerant in the third quarter worth $33,482,000. Finally, JPMorgan Chase & Co. increased its position in Accelerant by 21.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,952,996 shares of the technology company’s stock worth $31,931,000 after acquiring an additional 342,133 shares during the period.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Raymond James Financial boosted their target price on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. BMO Capital Markets lifted their target price on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. UBS Group set a $16.00 price target on Accelerant in a research note on Thursday, May 21st. Weiss Ratings downgraded Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 20th. Finally, Wells Fargo & Company dropped their price target on shares of Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.60.

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.