Insider Selling: Accelerant (NYSE:ARX) Insider Sells $959,910.00 in Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 73,500 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $13.06, for a total transaction of $959,910.00. Following the completion of the transaction, the insider directly owned 6,976,625 shares in the company, valued at approximately $91,114,722.50. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

• On Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The stock was sold at an average price of $13.11, for a total value of $1,002,443.04.
• On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The shares were sold at an average price of $13.21, for a total value of $931,780.56.

Accelerant Price Performance

ARX opened at $13.76 on Friday. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $31.18. The company has a market capitalization of $3.00 billion and a price-to-earnings ratio of -1.97. The firm’s fifty day moving average price is $14.25 and its two-hundred day moving average price is $13.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61.

Accelerant (NYSE:ARX) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $273.20 million during the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Accelerant

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new stake in Accelerant in the 1st quarter worth approximately $28,000. Quarry LP purchased a new position in shares of Accelerant during the 3rd quarter valued at $40,000. PNC Financial Services Group Inc. purchased a new position in shares of Accelerant during the 3rd quarter valued at $42,000. CWM LLC bought a new position in shares of Accelerant in the fourth quarter worth $109,000. Finally, Royal Bank of Canada increased its holdings 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 purchasing an additional 2,585 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Raymond James Financial increased their price objective on Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Morgan Stanley raised their price target on Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. BMO Capital Markets lifted their price target on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. TD Cowen decreased their price objective on Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, UBS Group set a $16.00 price objective on 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 given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.90.

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.