Accelerant Holdings (NYSE:ARX) Receives Average Recommendation of “Hold” from Analysts

Accelerant Holdings (NYSE:ARX) has been given an average rating of “Hold” by the twelve analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.95.

Several research analysts have recently weighed in on the stock. William Blair cut shares of Accelerant from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Morgan Stanley decreased their target price 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. Citigroup cut shares of Accelerant from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 13th. Royal Bank Of Canada downgraded shares of Accelerant from a “moderate buy” rating to a “hold” rating and set a $20.25 price target for the company. in a report on Friday, August 14th. Finally, Piper Sandler cut Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 price objective on the stock. in a report on Thursday, August 13th.

Accelerant Stock Up 0.0%

ARX stock opened at $19.84 on Friday. 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 has a 50-day moving average of $15.94 and a two-hundred day moving average of $14.25. Accelerant has a 12 month low of $9.18 and a 12 month high of $19.90. The company has a market cap of $4.31 billion, a price-to-earnings ratio of -2.98 and a beta of 0.08.

Accelerant (NYSE:ARX) last issued its earnings results 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 business had revenue of $356.90 million for the quarter. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. As a group, analysts forecast that Accelerant will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nancy Hasley sold 20,489 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $19.56, for a total value of $400,764.84. Following the transaction, the director owned 1,341,834 shares of the company’s stock, valued at $26,246,273.04. This represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Oneill sold 89,219 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $12.41, for a total value of $1,107,207.79. Following the transaction, the insider owned 6,369,290 shares of the company’s stock, valued at approximately $79,042,888.90. This represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,237,271 shares of company stock worth $16,557,879 over the last ninety days. Company insiders own 66.59% of the company’s stock.

Hedge Funds Weigh In On Accelerant

Several large investors have recently made changes to their positions in the stock. Alliancebernstein L.P. acquired a new position in Accelerant during the third quarter worth $41,529,000. Vanguard Group Inc. purchased a new stake in shares of Accelerant in the 3rd quarter valued at $33,482,000. Balyasny Asset Management L.P. acquired a new position in Accelerant during the 3rd quarter worth about $30,060,000. Azora Capital LP lifted its stake in Accelerant by 288.9% during the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the company’s stock worth $39,879,000 after acquiring an additional 1,811,976 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Accelerant during the 3rd quarter valued at about $12,985,000.

Accelerant Company Profile

Accelerant Holdings is a technology-enabled specialty insurance platform that connects managing general agents (MGAs) with insurance capacity providers. The company supports the development, underwriting and distribution of specialty insurance products, helping MGAs access capacity while giving insurers and other capital providers access to a broader portfolio of specialty risks.

Accelerant combines underwriting expertise, insurance data and technology through its platform, which is designed to improve risk selection, portfolio management and collaboration among insurance-market participants.