Accelerant (NYSE:ARX) Hits New 12-Month High – What’s Next?

Accelerant Holdings (NYSE:ARX) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $19.90 and last traded at $19.8450, with a volume of 138540 shares. The stock had previously closed at $19.84.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group set a $16.00 price objective on shares of Accelerant in a research note on Thursday, May 21st. Piper Sandler downgraded shares of Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 target price on the stock. in a research report on Thursday, August 13th. BMO Capital Markets increased their target price on shares of Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Finally, Morgan Stanley reduced their price target on Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Accelerant currently has an average rating of “Hold” and a consensus target price of $18.95.

Accelerant Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 1.53. The stock’s 50 day moving average price is $15.94 and its two-hundred day moving average price is $14.25. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -2.98 and a beta of 0.08.

Accelerant (NYSE:ARX) last posted its earnings results on Thursday, August 13th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. The business had revenue of $356.90 million for the quarter. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. On average, equities research analysts anticipate that Accelerant Holdings will post 0.91 EPS for the current year.

Insider Activity

In other Accelerant news, CEO Jeffrey L. Radke sold 95,223 shares of Accelerant 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 transaction, the chief executive officer directly owned 27,751,939 shares of the company’s stock, valued at $405,178,309.40. The trade was a 0.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Oneill sold 110,467 shares of Accelerant stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 6,626,772 shares in the company, valued at approximately $96,949,674.36. This represents a 1.64% 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 a total of 1,237,271 shares of company stock valued at $16,557,879 in the last three months. 66.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Accelerant

Several hedge funds and other institutional investors have recently modified their holdings of ARX. WINTON GROUP Ltd increased its position in Accelerant by 59.4% during the second quarter. WINTON GROUP Ltd now owns 22,000 shares of the company’s stock worth $258,000 after acquiring an additional 8,200 shares during the period. Engineers Gate Manager LP raised its stake in Accelerant by 123.5% during the 2nd quarter. Engineers Gate Manager LP now owns 98,354 shares of the company’s stock valued at $1,153,000 after purchasing an additional 54,338 shares during the last quarter. Arizona State Retirement System boosted its holdings in Accelerant by 48.6% in the 2nd quarter. Arizona State Retirement System now owns 16,108 shares of the company’s stock valued at $189,000 after purchasing an additional 5,270 shares during the period. California State Teachers Retirement System boosted its holdings in Accelerant by 2,101.5% in the 2nd quarter. California State Teachers Retirement System now owns 769,899 shares of the company’s stock valued at $9,023,000 after purchasing an additional 734,927 shares during the period. Finally, Militia Capital Management LLC acquired a new stake in Accelerant in the 1st quarter worth $2,004,000.

Accelerant Company Profile

Accelerant Holdings is a technology-enabled specialty insurance platform that connects managing general agents (MGAs) with insurance capacity providers. The company supports the development, underwriting and distribution of specialty insurance products, helping MGAs access capacity while giving insurers and other capital providers access to a broader portfolio of specialty risks.

Accelerant combines underwriting expertise, insurance data and technology through its platform, which is designed to improve risk selection, portfolio management and collaboration among insurance-market participants.