Accelerant (NYSE:ARX) Sees Large Volume Increase – Time to Buy?

Shares of Accelerant Holdings (NYSE:ARX) saw an uptick in trading volume on Tuesday . 1,466,115 shares changed hands during mid-day trading, an increase of 4% from the previous session’s volume of 1,412,458 shares.The stock last traded at $14.3670 and had previously closed at $14.61.

Analyst Ratings Changes

ARX has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings lowered Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, July 20th. UBS Group set a $16.00 target price on Accelerant in a research report on Thursday, May 21st. Piper Sandler upped their price target on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, BMO Capital Markets boosted their target price on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Accelerant currently has an average rating of “Moderate Buy” and an average price target of $18.60.

Accelerant Trading Down 15.3%

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 has a 50-day moving average price of $14.00 and a 200-day moving average price of $13.32. The company has a market capitalization of $2.72 billion and a price-to-earnings ratio of -1.79.

Accelerant (NYSE:ARX) last announced its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $273.20 million during the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The business’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, sell-side analysts predict that Accelerant Holdings will post 0.73 EPS for the current year.

Insider Activity

In related news, CEO Jeffrey L. Radke sold 95,223 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $14.60, for a total transaction of $1,390,255.80. Following the completion of the sale, the chief executive officer directly owned 27,751,939 shares in the company, valued at approximately $405,178,309.40. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis James Oneill sold 110,467 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $14.63, for a total value of $1,616,132.21. Following the completion of the transaction, the insider directly owned 6,626,772 shares in the company, valued at $96,949,674.36. This represents a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 903,405 shares of company stock valued at $12,339,427. Insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

Institutional investors and hedge funds have recently modified their holdings of the stock. Militia Capital Management LLC acquired a new stake in Accelerant during the 1st quarter worth about $2,004,000. UBS Group AG raised its holdings in shares of Accelerant by 331.9% during the fourth quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock valued at $8,758,000 after acquiring an additional 411,612 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Accelerant in the 3rd quarter valued at approximately $1,075,000. Azora Capital LP boosted its stake in Accelerant by 288.9% in the 4th 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 period. Finally, Jefferies Financial Group Inc. grew its position in 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 in the last quarter.

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.