Key Points
- CEO Jeffrey Radke sold 80,000 Accelerant shares at an average price of $12.09, generating $967,200. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 0.29% to about 27.6 million shares.
- Accelerant reported quarterly revenue of $273.2 million, up 53.5% year over year, while adjusted earnings of $0.17 per share exceeded estimates by $0.01. However, the company posted a negative net margin of 135.47%.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $18.60 versus the stock’s recent opening price of $12.51; 10 analysts rate it Buy, two Hold, and one Sell.
Accelerant Holdings (NYSE:ARX - Get Free Report) CEO Jeffrey Radke sold 80,000 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.09, for a total value of $967,200.00. Following the transaction, the chief executive officer directly owned 27,591,939 shares in the company, valued at $333,586,542.51. This trade represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Accelerant Price Performance
Accelerant stock opened at $12.51 on Wednesday. The business's 50-day simple moving average is $13.19 and its 200 day simple moving average is $13.12. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.73 billion and a price-to-earnings ratio of -1.79. Accelerant Holdings has a 12-month low of $9.18 and a 12-month high of $30.48.
Accelerant (NYSE:ARX - Get Free Report) last announced its quarterly earnings data 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 during the quarter. Accelerant's quarterly revenue was up 53.5% on a year-over-year basis. As a group, research analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current year.
Hedge Funds Weigh In On Accelerant
Several institutional investors have recently modified their holdings of the stock. State of Wyoming bought a new stake in shares of Accelerant in the 1st quarter valued at about $28,000. Quarry LP bought a new position in Accelerant during the 3rd quarter worth approximately $40,000. PNC Financial Services Group Inc. bought a new position in Accelerant during the 3rd quarter worth approximately $42,000. Royal Bank of Canada grew its holdings in Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company's stock valued at $103,000 after purchasing an additional 2,585 shares during the period. Finally, CWM LLC acquired a new position in Accelerant during the fourth quarter valued at approximately $109,000.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on ARX. UBS Group set a $16.00 price target on shares of Accelerant in a research note on Thursday, May 21st. Piper Sandler raised their price objective on shares of Accelerant from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Wells Fargo & Company lowered their target price on shares of Accelerant from $17.00 to $16.00 and set an "overweight" rating for the company in a report on Thursday, July 9th. Morgan Stanley dropped their target price on shares of Accelerant from $16.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, July 6th. Finally, Raymond James Financial increased their price target on Accelerant from $16.00 to $19.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.60.
Check Out Our Latest Stock Report on ARX
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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