Accelerant (NYSE:ARX) Director Nancy Hasley Sells 35,000 Shares of Stock

Accelerant Holdings (NYSE:ARX) Director Nancy Hasley sold 35,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total transaction of $458,850.00. Following the completion of the transaction, the director directly owned 1,362,323 shares of the company’s stock, valued at $17,860,054.53. This trade represents a 2.50% decrease in their position. The transaction 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 Trading Down 2.3%

Shares of Accelerant stock opened at $13.07 on Friday. The firm has a market capitalization of $2.85 billion and a PE ratio of -1.88. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $14.39 and its 200 day moving average is $13.77. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $31.18.

Accelerant (NYSE:ARX) last released its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $273.20 million during 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. Equities research analysts forecast 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 modified their holdings of the company. Security Benefit Life Insurance Co. KS acquired a new stake in shares of Accelerant during the third quarter worth $80,797,000. Capital World Investors acquired a new position in Accelerant in the third quarter valued at $85,666,000. Alliancebernstein L.P. bought a new stake in Accelerant during the third quarter valued at $41,529,000. Balyasny Asset Management L.P. boosted its position in Accelerant by 35.4% during 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 last quarter. Finally, Azora Capital LP boosted its position in Accelerant by 288.9% during 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 last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARX. Weiss Ratings upgraded shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. BMO Capital Markets boosted their price objective on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Piper Sandler upped their target price on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Morgan Stanley increased their target price on Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, UBS Group set a $16.00 price target on Accelerant 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.