Karen Sue Meriwether Sells 542 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) Director Karen Sue Meriwether sold 542 shares of Accelerant stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $19.62, for a total transaction of $10,634.04. Following the completion of the transaction, the director directly owned 20,868 shares in the company, valued at approximately $409,430.16. This represents a 2.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Accelerant Stock Performance

NYSE:ARX opened at $19.69 on Thursday. The firm has a market capitalization of $4.28 billion and a PE ratio of -2.96. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $29.79. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $14.33 and its 200 day simple moving average is $13.53.

Accelerant (NYSE:ARX) last released its earnings results on Thursday, August 13th. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. The firm had revenue of $356.90 million during the quarter. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. On average, sell-side analysts anticipate that Accelerant Holdings will post 0.9 EPS for the current year.

Institutional Investors Weigh In On Accelerant

Several institutional investors and hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its position in Accelerant by 0.6% in the fourth quarter. Teacher Retirement System of Texas now owns 176,043 shares of the technology company’s stock worth $2,878,000 after purchasing an additional 1,043 shares in the last quarter. State of Wyoming acquired a new position in shares of Accelerant in the 1st quarter worth approximately $28,000. 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 buying an additional 2,585 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Accelerant by 73.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the technology company’s stock valued at $82,000 after buying an additional 2,611 shares in the last quarter. Finally, Quarry LP acquired a new stake in Accelerant in the 3rd quarter valued at $40,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on ARX shares. UBS Group set a $16.00 price target on Accelerant in a report on Thursday, May 21st. Wells Fargo & Company cut their target price on shares of Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Piper Sandler downgraded shares of Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 price target for the company. in a report on Thursday, August 13th. Raymond James Financial lowered shares of Accelerant from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Weiss Ratings raised shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.95.

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.