Insider Selling: Accelerant (NYSE:ARX) Insider Sells $959,910.00 in Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 73,500 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $13.06, for a total value of $959,910.00. Following the completion of the transaction, the insider directly owned 6,976,625 shares in the company, valued at approximately $91,114,722.50. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The stock was sold at an average price of $13.11, for a total value of $1,002,443.04.
• On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The stock was sold at an average price of $13.21, for a total transaction of $931,780.56.

Accelerant Stock Performance

NYSE:ARX opened at $12.69 on Tuesday. The company has a fifty day moving average of $14.37 and a 200-day moving average of $13.74. The firm has a market capitalization of $2.77 billion and a P/E ratio of -1.82. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. Accelerant Holdings has a twelve month low of $9.18 and a twelve month high of $31.18.

Accelerant (NYSE:ARX) last released its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company 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. As a group, sell-side analysts anticipate that Accelerant Holdings will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. State of Wyoming bought a new position in shares of Accelerant in the first quarter valued at $28,000. Quarry LP bought a new stake in shares of Accelerant during the third quarter worth about $40,000. PNC Financial Services Group Inc. acquired a new stake in shares of Accelerant in the 3rd quarter worth about $42,000. Royal Bank of Canada raised its holdings in shares of Accelerant by 50.3% in 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 last quarter. Finally, CWM LLC acquired a new stake in shares of Accelerant in the 4th quarter worth about $109,000.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ARX. UBS Group set a $16.00 price objective on shares of Accelerant in a research report on Thursday, May 21st. Wells Fargo & Company boosted their target price on Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Morgan Stanley upped their price target on Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. TD Cowen cut their price target on Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, BMO Capital Markets raised their price objective on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Ten 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’s stock. According to data from MarketBeat.com, 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.