Key Points
- Accelerant Director Nancy Hasley sold 35,000 shares on June 23 at an average price of $13.11, totaling $458,850. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Hasley still owned 1,362,323 shares valued at about $17.86 million, a 2.5% decrease in her position.
- The company recently reported strong quarterly results, including EPS of $0.17 versus $0.16 expected and revenue up 53.5% year over year, while analysts currently rate the stock a Moderate Buy with an average target price of $18.90.
Accelerant Holdings (NYSE:ARX - Get Free Report) Director Nancy Hasley sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total value of $458,850.00. Following the sale, the director directly owned 1,362,323 shares of the company's stock, valued at $17,860,054.53. This represents a 2.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Accelerant Trading Down 2.3%
Shares of ARX stock opened at $13.07 on Friday. The company has a market cap of $2.85 billion and a P/E ratio of -1.88. The stock has a 50 day simple moving average of $14.39 and a two-hundred day simple moving average of $13.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. Accelerant Holdings has a fifty-two week low of $9.18 and a fifty-two week high of $31.18.
Accelerant (NYSE:ARX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The firm 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 revenue for the quarter was up 53.5% on a year-over-year basis. Research analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on ARX shares. TD Cowen cut their target price on shares of Accelerant from $36.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, March 26th. Morgan Stanley lifted their price target on shares of Accelerant from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Thursday, May 21st. Piper Sandler upped their price objective on shares of Accelerant from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Citizens Jmp cut their price objective 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, UBS Group set a $16.00 target price on Accelerant in a research note on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.90.
Get Our Latest Analysis on ARX
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Militia Capital Management LLC bought a new stake in Accelerant during the first quarter worth $2,004,000. Royal Bank of Canada raised its position in Accelerant by 50.3% in the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company's stock valued at $103,000 after buying an additional 2,585 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Accelerant during the 1st quarter valued at $137,000. SummitTX Capital L.P. lifted its stake in Accelerant by 11.0% during the 1st quarter. SummitTX Capital L.P. now owns 62,999 shares of the technology company's stock valued at $842,000 after acquiring an additional 6,219 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in Accelerant during the 1st quarter worth $239,000.
Accelerant Company Profile
(
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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