Accelerant Holdings (NYSE:ARX) Stock Has Consensus Target Price of $17.98

Accelerant Holdings (NYSE:ARX) has earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $17.98.

ARX has been the subject of several research analyst reports. TD Cowen cut shares of Accelerant from a “buy” rating to a “hold” rating and lowered their target price for the company from $30.00 to $20.25 in a report on Wednesday. Wells Fargo & Company reduced their price target 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. Raymond James Financial downgraded shares of Accelerant from a “market perform” rating to an “underperform” rating in a research note on Wednesday, September 23rd. BMO Capital Markets raised their price objective on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Finally, Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th.

Accelerant Price Performance

Shares of NYSE ARX opened at $19.73 on Thursday. The stock’s 50-day simple moving average is $17.88 and its 200-day simple moving average is $15.19. The firm has a market capitalization of $4.29 billion, a PE ratio of -2.97 and a beta of 0.08. Accelerant has a fifty-two week low of $9.18 and a fifty-two week high of $19.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.53 and a current ratio of 1.53.

Accelerant (NYSE:ARX) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. The company had revenue of $303.90 million for the quarter. As a group, equities research analysts forecast that Accelerant will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey L. Radke sold 95,223 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $14.60, for a total value of $1,390,255.80. Following the completion of the sale, the chief executive officer directly owned 27,751,939 shares of the company’s stock, valued at approximately $405,178,309.40. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Hasley sold 20,489 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $19.56, for a total transaction of $400,764.84. Following the transaction, the director owned 1,341,834 shares in the company, valued at approximately $26,246,273.04. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 821,771 shares of company stock worth $11,126,496 in the last quarter. 66.59% of the stock is owned by insiders.

Institutional Trading of Accelerant

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new position in Accelerant during the 3rd quarter worth $38,000. WINTON GROUP Ltd raised its holdings in shares of Accelerant by 59.4% in the second quarter. WINTON GROUP Ltd now owns 22,000 shares of the company’s stock valued at $258,000 after buying an additional 8,200 shares during the last quarter. Engineers Gate Manager LP raised its holdings in shares of Accelerant by 123.5% in the second quarter. Engineers Gate Manager LP now owns 98,354 shares of the company’s stock valued at $1,153,000 after buying an additional 54,338 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Accelerant by 48.6% during the second quarter. Arizona State Retirement System now owns 16,108 shares of the company’s stock worth $189,000 after buying an additional 5,270 shares during the period. Finally, Militia Capital Management LLC purchased a new position in shares of Accelerant during the first quarter worth about $2,004,000.

Accelerant Company Profile

Accelerant Holdings is a global specialty insurance platform that connects managing general agents (MGAs) with insurance capacity providers. Through its risk exchange, the company supports the development, underwriting and distribution of specialty insurance products across niche and complex risks.

Accelerant provides participating MGAs with access to underwriting capacity, data and analytics, technology, and other operational resources. Its model is designed to help specialty insurance businesses expand their offerings while giving capacity providers access to a diversified portfolio of insurance risks.

Founded in 2018, Accelerant serves insurance professionals across markets including North America, the United Kingdom, Europe and Australia.