Key Points
- CEO Jeffrey Radke sold 80,000 shares of Accelerant stock for about $1.07 million in a transaction filed with the SEC. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Despite the insider sale, Radke still directly owns 28.0 million shares valued at roughly $373.5 million, and the sale reduced his position by only 0.28%.
- Accelerant shares were up 1.4% to $13.43, while analysts currently maintain a Moderate Buy consensus with an average price target of $18.70.
Accelerant Holdings (NYSE:ARX - Get Free Report) CEO Jeffrey Radke sold 80,000 shares of Accelerant stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.33, for a total value of $1,066,400.00. Following the completion of the sale, the chief executive officer directly owned 28,021,939 shares of the company's stock, valued at approximately $373,532,446.87. This trade represents a 0.28% decrease in their position. The sale was disclosed in a legal 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.
Accelerant Trading Up 1.4%
Shares of Accelerant stock opened at $13.43 on Wednesday. The stock has a market capitalization of $2.93 billion and a P/E ratio of -1.93. Accelerant Holdings has a 52-week low of $9.18 and a 52-week high of $31.18. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. The stock's 50-day simple moving average is $14.19 and its 200 day simple moving average is $13.64.
Accelerant (NYSE:ARX - Get Free Report) last issued its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates 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 was up 53.5% compared to the same quarter last year. As a group, research analysts anticipate that Accelerant Holdings will post 0.73 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new stake in shares of Accelerant in the third quarter worth $165,000. PNC Financial Services Group Inc. bought a new position in Accelerant in the 3rd quarter worth about $42,000. Vanguard Group Inc. bought a new position in Accelerant in the 3rd quarter worth about $33,482,000. Jefferies Financial Group Inc. purchased a new stake in shares of Accelerant in the 3rd quarter valued at about $149,000. Finally, Legal & General Group Plc purchased a new stake in shares of Accelerant in the 3rd quarter valued at about $149,000.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on ARX shares. Citizens Jmp reduced their price objective on shares of Accelerant from $20.00 to $17.00 and set a "market outperform" rating for the company in a research note on Monday, April 13th. Raymond James Financial increased their target price on Accelerant from $16.00 to $19.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Weiss Ratings raised Accelerant from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, June 16th. TD Cowen reduced their price target on Accelerant from $36.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, March 26th. Finally, Wells Fargo & Company boosted their price objective on Accelerant from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.70.
Get Our Latest Analysis 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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