Accelerant Holdings (NYSE:ARX - Get Free Report) Director Karen Sue Meriwether sold 542 shares of Accelerant stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $19.62, for a total transaction of $10,634.04. Following the completion of the transaction, the director owned 20,868 shares of the company's stock, valued at $409,430.16. This represents a 2.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Accelerant Trading Up 0.1%
NYSE ARX opened at $19.68 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. Accelerant Holdings has a 52 week low of $9.18 and a 52 week high of $30.00. The stock has a market capitalization of $4.27 billion and a PE ratio of -2.96. The firm has a 50 day moving average of $14.20 and a two-hundred day moving average of $13.48.
Accelerant (NYSE:ARX - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The technology company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.16. The business had revenue of $356.90 million for the quarter. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. As a group, research analysts expect that Accelerant Holdings will post 0.9 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Citigroup cut Accelerant from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 13th. Piper Sandler cut Accelerant from an "overweight" rating to a "hold" rating and set a $20.25 price objective for the company. in a research report on Thursday, August 13th. William Blair downgraded Accelerant from an "outperform" rating to a "market perform" rating in a report on Thursday, August 13th. Morgan Stanley cut their target price on Accelerant from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, July 6th. Finally, Raymond James Financial cut Accelerant from a "moderate buy" rating to a "hold" rating in a research note on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $18.95.
View Our Latest Research Report on Accelerant
Institutional Investors Weigh In On Accelerant
A number of institutional investors and hedge funds have recently bought and sold shares of ARX. Alliancebernstein L.P. acquired a new position in Accelerant in the third quarter valued at $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 purchasing an additional 714,811 shares in 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 purchasing an additional 1,811,976 shares in the last quarter. Vanguard Group Inc. purchased a new stake in shares of Accelerant in the 3rd quarter valued at about $33,482,000. Finally, JPMorgan Chase & Co. lifted 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 during the last quarter.
Accelerant Company Profile
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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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