Insider Selling: Accelerant (NYSE:ARX) Insider Sells $1,523,660.32 in Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 104,647 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $14.56, for a total transaction of $1,523,660.32. Following the sale, the insider owned 6,522,125 shares in the company, valued at $94,962,140. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a 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, July 27th, Francis James Oneill sold 110,467 shares of Accelerant stock. The shares were sold at an average price of $14.63, for a total transaction of $1,616,132.21.
• On Thursday, June 25th, Francis James Oneill sold 73,500 shares of Accelerant stock. The shares were sold at an average price of $13.06, for a total transaction of $959,910.00.
• On Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The shares were sold at an average price of $13.11, for a total transaction 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 value of $931,780.56.

Accelerant Trading Up 5.8%

NYSE:ARX opened at $11.85 on Friday. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $30.48. The stock’s fifty day moving average price is $13.77 and its two-hundred day moving average price is $13.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market cap of $2.58 billion and a P/E ratio of -1.70.

Accelerant (NYSE:ARX) last announced its quarterly earnings results 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 company 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 company’s revenue was up 53.5% compared to the same quarter last year. As a group, analysts expect that Accelerant Holdings will post 0.73 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on ARX shares. BMO Capital Markets raised their target price on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. Raymond James Financial upped their price target on Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Morgan Stanley lowered their price target on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. Wells Fargo & Company cut their price objective on shares of Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings cut shares of Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, July 20th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ARX. Militia Capital Management LLC purchased a new stake in Accelerant in the first quarter valued at approximately $2,004,000. UBS Group AG lifted its position in 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 purchasing an additional 411,612 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Accelerant in the 3rd quarter worth approximately $1,075,000. Jefferies Financial Group Inc. grew its stake in Accelerant by 349.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock worth $735,000 after buying an additional 34,980 shares in the last quarter. Finally, Azora Capital LP increased its holdings in shares of 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 buying an additional 1,811,976 shares during 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.