Accelerant Holdings (NYSE:ARX - Get Free Report) CEO Jeffrey Radke sold 80,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $12.06, for a total transaction of $964,800.00. Following the transaction, the chief executive officer directly owned 27,671,939 shares of the company's stock, valued at approximately $333,723,584.34. This represents a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Accelerant Trading Up 0.8%
Shares of ARX stock opened at $12.12 on Wednesday. The firm has a market cap of $2.64 billion and a P/E ratio of -1.74. Accelerant Holdings has a 1-year low of $9.18 and a 1-year high of $30.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The firm's 50-day simple moving average is $13.57 and its 200-day simple moving average is $13.21.
Accelerant (NYSE:ARX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 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 firm had revenue of $273.20 million during the quarter. The firm's revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, equities analysts forecast that Accelerant Holdings will post 0.73 EPS for the current year.
Analyst Upgrades and Downgrades
ARX has been the subject of a number of research analyst reports. Raymond James Financial increased their target price 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 reduced their price target on shares of Accelerant from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. Citizens Jmp decreased 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. BMO Capital Markets increased their price objective on shares of Accelerant from $16.50 to $17.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 16th. Finally, UBS Group set a $16.00 target price on shares of Accelerant in a research note on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Accelerant currently has an average rating of "Moderate Buy" and an average price target of $18.60.
View Our Latest Analysis on Accelerant
Institutional Investors Weigh In On Accelerant
Large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. purchased a new position in Accelerant in the 3rd quarter valued at about $41,529,000. Balyasny Asset Management L.P. increased its position in shares of 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 acquiring an additional 714,811 shares during the last quarter. Azora Capital LP increased its position in shares of Accelerant by 288.9% during the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company's stock worth $39,879,000 after acquiring an additional 1,811,976 shares during the last quarter. Vanguard Group Inc. acquired a new position in shares of Accelerant in the third quarter worth about $33,482,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Accelerant by 21.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,952,996 shares of the technology company's stock worth $31,931,000 after acquiring an additional 342,133 shares in the last quarter.
About Accelerant
(
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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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