Key Points
- CEO Jeffrey Radke sold 95,223 Accelerant shares at an average price of $14.60, generating $1.39 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, and he retained approximately 27.75 million shares.
- Accelerant reported quarterly EPS of $0.17, slightly beating the $0.16 consensus estimate, while revenue rose 53.5% year over year to $273.2 million. Analysts expect full-year EPS of $0.73.
- Despite mixed price-target revisions and one sell rating, analyst coverage remains broadly positive, with 10 buy ratings, two holds, and a consensus “Moderate Buy” rating alongside an average price target of $18.60.
Accelerant Holdings (NYSE:ARX - Get Free Report) COO Matthew David Sternberg sold 17,568 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $14.64, for a total value of $257,195.52. Following the transaction, the chief operating officer directly owned 596,482 shares of the company's stock, valued at approximately $8,732,496.48. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Accelerant Stock Down 0.1%
Accelerant stock opened at $14.59 on Wednesday. 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 $30.48. The company has a fifty day simple moving average of $14.08 and a 200 day simple moving average of $13.34. The company has a market cap of $3.18 billion and a P/E ratio of -2.09.
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 for the quarter, topping the consensus estimate of $0.16 by $0.01. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The firm had revenue of $273.20 million for the quarter. The firm's revenue for the quarter was up 53.5% on a year-over-year basis. Research analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.
Institutional Trading of Accelerant
Several large investors have recently made changes to their positions in ARX. Alliancebernstein L.P. bought a new position in Accelerant in the third quarter valued at approximately $41,529,000. Balyasny Asset Management L.P. lifted its stake in Accelerant by 35.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,733,595 shares of the technology company's stock worth $44,694,000 after purchasing an additional 714,811 shares during the last quarter. Azora Capital LP boosted its holdings in shares of Accelerant by 288.9% in the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company's stock valued at $39,879,000 after purchasing an additional 1,811,976 shares in the last quarter. Vanguard Group Inc. acquired a new stake in shares of Accelerant in the 3rd quarter valued at $33,482,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Accelerant by 21.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,952,996 shares of the technology company's stock valued at $31,931,000 after purchasing an additional 342,133 shares in the last quarter.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Raymond James Financial raised their price objective on shares of Accelerant from $16.00 to $19.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Wells Fargo & Company decreased their target price on Accelerant from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. Morgan Stanley lowered their target price on Accelerant from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday, July 6th. UBS Group set a $16.00 price target on Accelerant in a report on Thursday, May 21st. Finally, Piper Sandler boosted their price target on Accelerant from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Accelerant has an average rating of "Moderate Buy" and a consensus target price of $18.60.
Read Our Latest Report on ARX
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
