Insider Selling: Accelerant (NYSE:ARX) Insider Sells $1,002,443.04 in Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 76,464 shares of Accelerant stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total value of $1,002,443.04. Following the transaction, the insider directly owned 7,050,125 shares of the company’s stock, valued at approximately $92,427,138.75. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

• On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The shares were sold at an average price of $13.21, for a total value of $931,780.56.

Accelerant Price Performance

Shares of ARX stock traded up $0.21 during mid-day trading on Wednesday, reaching $13.34. The stock had a trading volume of 1,732,079 shares, compared to its average volume of 1,343,900. Accelerant Holdings has a 12-month low of $9.18 and a 12-month high of $31.18. The company has a market cap of $2.91 billion and a P/E ratio of -1.91. The business has a 50-day simple moving average of $14.39 and a 200 day simple moving average of $13.78. 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 released its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 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 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 year.

Hedge Funds Weigh In On Accelerant

A number of institutional investors have recently modified their holdings of the company. UBS Group AG grew its stake in Accelerant by 331.9% in the 4th quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock worth $8,758,000 after acquiring an additional 411,612 shares during the period. Tudor Investment Corp ET AL acquired a new position in Accelerant in the 3rd quarter valued at $1,075,000. Jefferies Financial Group Inc. lifted its stake in shares of Accelerant by 349.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock worth $735,000 after purchasing an additional 34,980 shares during the period. Yorktown Management & Research Co Inc purchased a new position in shares of Accelerant during the 4th quarter worth $970,000. Finally, Azora Capital LP boosted its holdings in shares of Accelerant by 288.9% during the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock worth $39,879,000 after purchasing an additional 1,811,976 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ARX shares. Citizens Jmp dropped their price objective on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. Morgan Stanley increased their target price on Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Piper Sandler raised their price target on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. UBS Group set a $16.00 price target on Accelerant in a report on Thursday, May 21st. Finally, Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Accelerant has a consensus rating of “Moderate Buy” and a consensus price target of $18.90.

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.