Accelerant (NYSE:ARX) Stock Price Breaks Above 200 Day Moving Average – Should You Sell?

Shares of Accelerant Holdings (NYSE:ARX) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $15.91 and traded as high as $19.85. Accelerant shares last traded at $19.7550, with a volume of 1,481,972 shares traded.

Analyst Ratings Changes

Several research firms have recently commented on ARX. Wells Fargo & Company decreased their target price on Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Morgan Stanley lowered their price objective on Accelerant from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th. Royal Bank Of Canada cut Accelerant from a “moderate buy” rating to a “hold” rating and set a $20.25 price target on the stock. in a research report on Friday, August 14th. Citizens Jmp lowered shares of Accelerant from a “market outperform” rating to a “hold” rating in a report on Friday, August 14th. Finally, Citigroup downgraded shares of Accelerant from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.98.

Accelerant Trading Up 0.0%

The stock has a market cap of $4.29 billion, a P/E ratio of -2.97 and a beta of 0.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.53 and a current ratio of 1.53. The firm’s fifty day simple moving average is $19.75 and its 200-day simple moving average is $15.94.

Accelerant (NYSE:ARX) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. The firm had revenue of $303.90 million during the quarter. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. Equities research analysts expect that Accelerant Holdings will post 0.90 EPS for the current fiscal year.

Insider Buying and Selling at Accelerant

In related news, COO Matthew David Sternberg sold 17,568 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $14.64, for a total transaction of $257,195.52. Following the transaction, the chief operating officer directly owned 596,482 shares of the company’s stock, valued at $8,732,496.48. This trade represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeffrey L. Radke sold 95,223 shares of Accelerant stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $14.60, for a total transaction of $1,390,255.80. Following the transaction, the chief executive officer directly owned 27,751,939 shares in the company, valued at approximately $405,178,309.40. This represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 661,771 shares of company stock worth $9,005,696. Corporate insiders own 66.59% of the company’s stock.

Hedge Funds Weigh In On Accelerant

Several institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in shares of Accelerant by 543.3% in the third quarter. Sterling Capital Management LLC now owns 1,885 shares of the company’s stock worth $37,000 after purchasing an additional 1,592 shares during the period. GAMMA Investing LLC raised its position in shares of Accelerant by 998.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $35,000 after buying an additional 1,598 shares in the last quarter. Versant Capital Management Inc bought a new position in Accelerant in the third quarter valued at $38,000. State of Wyoming purchased a new stake in Accelerant during the first quarter valued at about $28,000. Finally, Royal Bank of Canada increased its position in shares of Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the company’s stock valued at $103,000 after purchasing an additional 2,585 shares during the last quarter.

Accelerant Company Profile

Accelerant Holdings is a technology-enabled specialty insurance platform that connects managing general agents (MGAs) with insurance and reinsurance capital providers. The company aims to help MGAs access capacity and support capital partners with data, underwriting insight and portfolio management tools.

Its services include underwriting support, risk selection, portfolio analytics and technology designed to improve the exchange of information between specialty insurance distributors and capacity providers.