Accelerant (NYSE:ARX) Insider Francis James Oneill Sells 76,464 Shares

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 76,464 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total value of $1,002,443.04. Following the completion of the sale, the insider directly owned 7,050,125 shares in the company, valued at approximately $92,427,138.75. The trade was a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The shares were sold at an average price of $13.21, for a total value of $931,780.56.

Accelerant Stock Up 1.6%

Shares of NYSE ARX opened at $13.34 on Thursday. Accelerant Holdings has a 12 month low of $9.18 and a 12 month high of $31.18. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.91 billion and a price-to-earnings ratio of -1.91. The business has a 50-day moving average of $14.39 and a 200-day moving average of $13.78.

Accelerant (NYSE:ARX) last announced its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $273.20 million for the quarter. The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. Sell-side analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Accelerant

Several hedge funds have recently added to or reduced their stakes in the business. UBS Group AG increased its holdings in shares of Accelerant by 331.9% in the fourth quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock worth $8,758,000 after buying an additional 411,612 shares during the period. Tudor Investment Corp ET AL purchased a new stake in Accelerant during the 3rd quarter valued at about $1,075,000. Jefferies Financial Group Inc. boosted its holdings in Accelerant by 349.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock valued at $735,000 after acquiring an additional 34,980 shares during the period. Yorktown Management & Research Co Inc bought a new position in Accelerant during the 4th quarter worth approximately $970,000. Finally, Azora Capital LP grew its position in Accelerant by 288.9% during the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock worth $39,879,000 after acquiring an additional 1,811,976 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARX. Raymond James Financial upped their target price on shares of Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. BMO Capital Markets upped 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. Citizens Jmp reduced their price objective on Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. TD Cowen reduced their price objective on Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Finally, Piper Sandler raised their price objective on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.90.

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.