Accelerant (NYSE:ARX) COO Sells $257,195.52 in Stock

Accelerant Holdings (NYSE:ARX) COO Matthew David Sternberg sold 17,568 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $14.64, for a total value of $257,195.52. Following the completion of the sale, the chief operating officer directly owned 596,482 shares of the company’s stock, valued at approximately $8,732,496.48. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Accelerant Stock Performance

Shares of NYSE ARX opened at $11.19 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. Accelerant Holdings has a 12 month low of $9.18 and a 12 month high of $30.48. The stock has a 50 day moving average of $13.88 and a 200-day moving average of $13.29. The company has a market capitalization of $2.44 billion and a P/E ratio of -1.61.

Accelerant (NYSE:ARX) last posted its earnings results 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. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The business had revenue of $273.20 million for the quarter. Accelerant’s revenue was up 53.5% on a year-over-year basis. As a group, equities research analysts predict that Accelerant Holdings will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citizens Jmp decreased their price objective on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. BMO Capital Markets raised their target price on shares of Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. Weiss Ratings downgraded shares of Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 20th. Wells Fargo & Company decreased their price target on shares of 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 price target on shares of Accelerant in a report on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Accelerant has an average rating of “Moderate Buy” and an average price target of $18.60.

Institutional Trading of Accelerant

Institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in Accelerant in the 1st quarter valued at $28,000. Quarry LP acquired a new stake in shares of Accelerant during the third quarter worth $40,000. PNC Financial Services Group Inc. acquired a new stake in shares of Accelerant during the third quarter worth $42,000. Royal Bank of Canada boosted its position in shares of Accelerant by 50.3% in the first 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 period. Finally, CWM LLC bought a new stake in shares of Accelerant in the fourth 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.