Accelerant (NYSE:ARX) CEO Jeffrey Radke Sells 95,223 Shares of Stock

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 95,223 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $14.60, for a total transaction of $1,390,255.80. Following the completion of the transaction, the chief executive officer owned 27,751,939 shares of the company’s stock, valued at approximately $405,178,309.40. This trade represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Price Performance

Shares of NYSE:ARX traded down $0.02 during trading on Tuesday, reaching $14.59. 8,698,313 shares of the company’s stock traded hands, compared to its average volume of 1,499,303. Accelerant Holdings has a fifty-two week low of $9.18 and a fifty-two 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 firm has a market cap of $3.18 billion and a PE ratio of -2.09. The company has a 50-day simple moving average of $14.08 and a 200-day simple moving average of $13.34.

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

Institutional Investors Weigh In On Accelerant

Hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas raised its holdings in Accelerant by 0.6% in the 4th quarter. Teacher Retirement System of Texas now owns 176,043 shares of the technology company’s stock valued at $2,878,000 after acquiring an additional 1,043 shares during the last quarter. State of Wyoming acquired a new position in shares of Accelerant during the 1st quarter worth approximately $28,000. Royal Bank of Canada boosted its holdings in shares of Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,585 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Accelerant by 73.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the technology company’s stock valued at $82,000 after purchasing an additional 2,611 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Accelerant in the third quarter valued at approximately $40,000.

Wall Street Analyst Weigh In

ARX has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased 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. BMO Capital Markets boosted their price target on shares of Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. UBS Group set a $16.00 price objective on shares of Accelerant in a research report on Thursday, May 21st. Raymond James Financial lifted their target price 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. Finally, Citizens Jmp reduced their price target on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.60.

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.