Jeffrey Radke Sells 80,000 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $12.06, for a total value of $964,800.00. Following the sale, the chief executive officer owned 27,671,939 shares in the company, valued at approximately $333,723,584.34. This trade represents a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Price Performance

Accelerant stock traded up $0.10 during mid-day trading on Tuesday, hitting $12.12. 1,414,279 shares of the company were exchanged, compared to its average volume of 2,521,886. Accelerant Holdings has a 12-month low of $9.18 and a 12-month high of $30.48. The company has a market capitalization of $2.64 billion and a P/E ratio of -1.74. The business’s 50 day simple moving average is $13.57 and its two-hundred day simple moving average is $13.21. 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 issued its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $273.20 million for the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The business’s quarterly revenue was up 53.5% compared to the same quarter last year. Analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ARX. BMO Capital Markets raised their price target on shares of Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. Piper Sandler boosted their price objective on shares of Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. UBS Group set a $16.00 price objective on shares of Accelerant in a research note on Thursday, May 21st. Citizens Jmp decreased their target price on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Finally, Morgan Stanley lowered their target price on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, July 6th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.60.

Institutional Investors Weigh In On Accelerant

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

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.