Insider Selling: Accelerant (NYSE:ARX) Insider Sells 104,647 Shares of Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 104,647 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $14.56, for a total value of $1,523,660.32. Following the sale, the insider directly owned 6,522,125 shares in the company, valued at $94,962,140. This represents a 1.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value 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 value 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 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 value of $931,780.56.

Accelerant Price Performance

Shares of NYSE ARX traded down $2.25 during mid-day trading on Wednesday, reaching $12.47. The company had a trading volume of 4,251,021 shares, compared to its average volume of 1,490,461. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. Accelerant Holdings has a one year low of $9.18 and a one year high of $30.48. The firm has a market cap of $2.72 billion and a price-to-earnings ratio of -1.79. The business’s 50-day simple moving average is $14.08 and its 200 day simple moving average is $13.34.

Accelerant (NYSE:ARX) last issued its earnings results on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company had revenue of $273.20 million during the quarter. The business’s revenue was up 53.5% on a year-over-year basis. On average, research analysts predict that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ARX shares. Citizens Jmp cut their target price on Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. Weiss Ratings cut Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 20th. BMO Capital Markets upped their price objective on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Wells Fargo & Company reduced their price objective on Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Finally, UBS Group set a $16.00 target price on Accelerant in a research report on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.60.

Institutional Trading of Accelerant

A number of hedge funds have recently added to or reduced their stakes in the stock. Militia Capital Management LLC bought a new stake in shares of Accelerant during the first quarter worth $2,004,000. Royal Bank of Canada lifted its stake 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 valued at $103,000 after acquiring an additional 2,585 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Accelerant during the 1st quarter valued at $137,000. SummitTX Capital L.P. boosted its holdings in shares of Accelerant by 11.0% during the 1st quarter. SummitTX Capital L.P. now owns 62,999 shares of the technology company’s stock valued at $842,000 after acquiring an additional 6,219 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Accelerant during the 1st quarter worth $239,000.

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.