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

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $12.06, for a total value of $964,800.00. Following the sale, the chief executive officer owned 27,671,939 shares in the company, valued at $333,723,584.34. The trade was a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Performance

Shares of NYSE:ARX opened at $12.21 on Thursday. The business has a fifty day moving average of $13.49 and a 200-day moving average of $13.19. 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 twelve month low of $9.18 and a twelve month high of $30.48. The firm has a market cap of $2.66 billion and a PE ratio of -1.75.

Accelerant (NYSE:ARX) last issued its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $273.20 million for the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. On average, equities research analysts predict that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on ARX shares. Weiss Ratings raised shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. UBS Group set a $16.00 price objective on shares of Accelerant in a research report on Thursday, May 21st. Piper Sandler upped their price objective on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Wells Fargo & Company decreased their price objective on Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Finally, Raymond James Financial increased their price objective on Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.60.

Hedge Funds Weigh In On Accelerant

Several large investors have recently bought and sold shares of ARX. Militia Capital Management LLC bought a new position in Accelerant in the first quarter valued at approximately $2,004,000. Royal Bank of Canada grew 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 acquiring an additional 2,585 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Accelerant during the 1st quarter valued at $137,000. SummitTX Capital L.P. raised its position in shares of Accelerant by 11.0% during the 1st quarter. SummitTX Capital L.P. now owns 62,999 shares of the technology company’s stock valued at $842,000 after acquiring an additional 6,219 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Accelerant in the 1st quarter valued at $239,000.

Accelerant Company Profile

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.