Karen Sue Meriwether Sells 542 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) Director Karen Sue Meriwether sold 542 shares of Accelerant stock in a transaction on Friday, August 21st. The shares were sold at an average price of $19.62, for a total value of $10,634.04. Following the completion of the sale, the director directly owned 20,868 shares of the company’s stock, valued at $409,430.16. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Accelerant Stock Up 0.1%

NYSE ARX traded up $0.01 during trading hours on Tuesday, hitting $19.68. 2,010,250 shares of the company were exchanged, compared to its average volume of 7,820,629. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. Accelerant Holdings has a 52-week low of $9.18 and a 52-week high of $30.00. The firm has a market cap of $4.27 billion and a price-to-earnings ratio of -2.96. The company has a 50 day moving average of $14.20 and a two-hundred day moving average of $13.48.

Accelerant (NYSE:ARX) last released its quarterly earnings data on Thursday, August 13th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $356.90 million during the quarter. Equities research analysts anticipate that Accelerant Holdings will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On Accelerant

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in shares of Accelerant in the first quarter valued at approximately $28,000. Quarry LP purchased a new stake in Accelerant during the 3rd quarter worth $40,000. PNC Financial Services Group Inc. acquired a new stake in Accelerant in the 3rd quarter valued at $42,000. CWM LLC purchased a new position in Accelerant in the fourth quarter valued at about $109,000. Finally, 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 worth $103,000 after buying an additional 2,585 shares during the period.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler cut Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 target price for the company. in a research report on Thursday, August 13th. Citigroup lowered Accelerant from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 13th. BMO Capital Markets boosted their price objective on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Morgan Stanley lowered their target price on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, July 6th. Finally, Raymond James Financial downgraded shares of Accelerant from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.95.

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.