Francis James Oneill Sells 110,467 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 110,467 shares of Accelerant stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $14.63, for a total value of $1,616,132.21. Following the sale, the insider directly owned 6,626,772 shares of the company’s stock, valued at $96,949,674.36. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

• On Tuesday, July 28th, Francis James Oneill sold 104,647 shares of Accelerant stock. The shares were sold at an average price of $14.56, for a total value of $1,523,660.32.
• On Thursday, June 25th, Francis James Oneill sold 73,500 shares of Accelerant stock. The stock was 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 stock was 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 Stock Performance

Shares of ARX opened at $11.19 on Friday. The company has a market capitalization of $2.44 billion and a price-to-earnings ratio of -1.61. Accelerant Holdings has a 52-week low of $9.18 and a 52-week high of $30.48. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $13.88 and a 200 day moving average price of $13.29.

Accelerant (NYSE:ARX) last released its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $273.20 million for the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. Accelerant’s quarterly revenue was up 53.5% compared to the same quarter last year. Research analysts predict that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARX. Raymond James Financial boosted their price target on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Wells Fargo & Company cut 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. Piper Sandler boosted their target price on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Weiss Ratings cut Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, July 20th. Finally, BMO Capital Markets lifted their price target on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Accelerant currently has a consensus rating of “Moderate Buy” and an average target price of $18.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new position in Accelerant in the first quarter valued at $28,000. Quarry LP acquired a new stake in shares of Accelerant during the third quarter worth about $40,000. PNC Financial Services Group Inc. purchased a new position in shares of Accelerant during the third quarter worth about $42,000. Royal Bank of Canada grew its holdings in shares of Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after buying an additional 2,585 shares during the last quarter. Finally, CWM LLC acquired a new position in Accelerant in the 4th quarter valued at about $109,000.

About Accelerant

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.