Accelerant (NYSE:ARX) Shares Break Above 200 Day Moving Average – Time to Sell?

Accelerant Holdings (NYSE:ARX)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $15.45 and traded as high as $19.78. Accelerant shares last traded at $19.7550, with a volume of 1,241,946 shares changing hands.

Analyst Upgrades and Downgrades

ARX has been the topic of a number of recent analyst reports. Raymond James Financial cut Accelerant from a “market perform” rating to an “underperform” rating in a research report on Wednesday, September 23rd. Piper Sandler cut shares of 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. BMO Capital Markets upped 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. Royal Bank Of Canada lowered shares of Accelerant from a “moderate buy” rating to a “hold” rating and set a $20.25 price target on the stock. in a research report on Friday, August 14th. Finally, William Blair downgraded shares of Accelerant from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.98.

Accelerant Price Performance

The business’s 50-day simple moving average is $18.56 and its two-hundred day simple moving average is $15.48. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of -2.98 and a beta of 0.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 1.53.

Accelerant (NYSE:ARX) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. The company had revenue of $303.90 million during the quarter. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. Research analysts expect that Accelerant Holdings will post 0.90 earnings per share for the current year.

Insider Transactions at Accelerant

In related news, insider Francis Oneill sold 89,219 shares of Accelerant stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $12.41, for a total transaction of $1,107,207.79. Following the sale, the insider directly owned 6,369,290 shares in the company, valued at $79,042,888.90. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Matthew David Sternberg sold 17,568 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $14.64, for a total transaction of $257,195.52. Following the sale, the chief operating officer directly owned 596,482 shares in the company, valued at $8,732,496.48. The trade was a 2.86% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 741,771 shares of company stock valued at $10,060,096. 66.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Accelerant

Hedge funds have recently modified their holdings of the business. Militia Capital Management LLC acquired a new stake in Accelerant in the first quarter valued at $2,004,000. Renaissance Technologies LLC lifted its holdings in Accelerant by 280.5% during the 1st quarter. Renaissance Technologies LLC now owns 276,600 shares of the company’s stock worth $3,695,000 after buying an additional 203,900 shares during the period. Engineers Gate Manager LP grew its position in shares of Accelerant by 123.5% in the 2nd quarter. Engineers Gate Manager LP now owns 98,354 shares of the company’s stock valued at $1,153,000 after buying an additional 54,338 shares during the last quarter. Azora Capital LP increased its stake in shares of Accelerant by 288.9% in the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the company’s stock valued at $39,879,000 after buying an additional 1,811,976 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Accelerant during the first quarter worth about $488,000.

About Accelerant

Accelerant Holdings is a global specialty insurance platform that connects managing general agents (MGAs) with insurance capacity providers. Through its risk exchange, the company supports the development, underwriting and distribution of specialty insurance products across niche and complex risks.

Accelerant provides participating MGAs with access to underwriting capacity, data and analytics, technology, and other operational resources. Its model is designed to help specialty insurance businesses expand their offerings while giving capacity providers access to a diversified portfolio of insurance risks.

Founded in 2018, Accelerant serves insurance professionals across markets including North America, the United Kingdom, Europe and Australia.