Key Points
- Insider selling: Accelerant insider Francis James Oneill sold 70,536 shares on June 22 at an average price of $13.21, totaling about $931,781. He later sold another 76,464 shares on June 23 for roughly $1.0 million.
- Company fundamentals: Accelerant shares recently traded around $13.34, below both the 50-day and 200-day moving averages. The stock has ranged from $9.18 to $31.18 over the past year and has a market value of about $2.91 billion.
- Analyst sentiment: Wall Street remains broadly positive, with 10 Buy ratings, two Holds, and one Sell. The consensus rating is Moderate Buy, and the average price target is $18.90.
Accelerant Holdings (NYSE:ARX - Get Free Report) insider Francis James Oneill sold 70,536 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $13.21, for a total value of $931,780.56. Following the transaction, the insider owned 7,126,589 shares in the company, valued at approximately $94,142,240.69. This trade represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $13.11, for a total transaction of $1,002,443.04.
Accelerant Price Performance
Shares of Accelerant stock opened at $13.34 on Thursday. The firm has a fifty day simple moving average of $14.39 and a 200-day simple moving average of $13.78. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. Accelerant Holdings has a 1-year low of $9.18 and a 1-year high of $31.18. The stock has a market capitalization of $2.91 billion and a price-to-earnings ratio of -1.91.
Accelerant (NYSE:ARX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The business had revenue of $273.20 million during the quarter. The firm's quarterly revenue was up 53.5% on a year-over-year basis. On average, sell-side analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ARX. Teacher Retirement System of Texas raised its position in shares of Accelerant by 0.6% during the fourth 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 last quarter. State of Wyoming bought a new stake in shares of Accelerant in the first quarter valued at about $28,000. Royal Bank of Canada grew its position in Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company's stock worth $103,000 after buying an additional 2,585 shares in 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 worth $82,000 after buying an additional 2,611 shares in the last quarter. Finally, Quarry LP bought a new position in Accelerant during the third quarter valued at about $40,000.
Analysts Set New Price Targets
A number of research firms have issued reports on ARX. BMO Capital Markets upped their price target on shares of Accelerant from $16.50 to $17.00 and gave the company an "outperform" rating in a report on Tuesday, June 16th. UBS Group set a $16.00 price objective on Accelerant in a research note on Thursday, May 21st. TD Cowen cut their price objective on Accelerant from $36.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, March 26th. Wells Fargo & Company increased their target price on Accelerant from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Finally, Weiss Ratings raised Accelerant from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, June 16th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Accelerant currently has a consensus rating of "Moderate Buy" and an average target price of $18.90.
Read Our Latest Research Report on Accelerant
About Accelerant
(
Get Free Report)
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.
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