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

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total value of $1,048,800.00. Following the completion of the sale, the chief executive officer owned 28,181,939 shares in the company, valued at approximately $369,465,220.29. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a 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 Stock Down 2.3%

Shares of Accelerant stock traded down $0.30 during trading hours on Thursday, hitting $13.07. The company had a trading volume of 3,087,372 shares, compared to its average volume of 1,333,244. The company has a market cap of $2.85 billion and a P/E ratio of -1.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. Accelerant Holdings has a twelve month low of $9.18 and a twelve month high of $31.18. The company’s 50-day moving average is $14.39 and its two-hundred day moving average is $13.77.

Accelerant (NYSE:ARX) last released its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, topping 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 company had revenue of $273.20 million for the quarter. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. Analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accelerant

Institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new stake in Accelerant in the 1st quarter valued at $28,000. Quarry LP acquired a new stake in shares of Accelerant in the third quarter valued at about $40,000. PNC Financial Services Group Inc. acquired a new stake in Accelerant in the third quarter valued at approximately $42,000. CWM LLC acquired a new stake in Accelerant during the 4th quarter valued at $109,000. Finally, Royal Bank of Canada increased its position in shares of Accelerant by 50.3% during the first 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 last quarter.

Analysts Set New Price Targets

ARX has been the subject of a number of analyst reports. TD Cowen cut their target price on Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Raymond James Financial upped their price target on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Citizens Jmp reduced their price objective on Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Piper Sandler increased their price objective on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley lifted their price target on shares of Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.90.

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.