Accelerant (NYSE:ARX) CEO Jeffrey Radke Sells 95,223 Shares of Stock

Key Points

• CEO Jeffrey Radke sold 95,223 Accelerant shares at an average price of $14.60, generating approximately $1.39 million. The Rule 10b5-1 transaction reduced his stake by 0.34%, leaving him with 27.75 million shares.
• Accelerant reported quarterly EPS of $0.17, beating estimates by $0.01, while revenue rose 53.5% year over year to $273.2 million. Despite positive return on equity, the company posted a negative net margin of 135.47%.
• ARX traded near $14.59, below the analyst consensus target of $18.60. Analysts maintain a “Moderate Buy” consensus, although ratings range from “Sell” to “Outperform” or “Overweight.”

Accelerant Holdings (NYSE:ARX - Get Free Report) CEO Jeffrey Radke sold 95,223 shares of the company's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $14.60, for a total transaction of $1,390,255.80. Following the transaction, the chief executive officer owned 27,751,939 shares in the company, valued at approximately $405,178,309.40. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Performance

ARX stock traded down $0.02 during trading on Tuesday, reaching $14.59. The company had a trading volume of 8,698,313 shares, compared to its average volume of 1,499,303. The firm has a 50-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 price-to-earnings ratio of -2.09. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. Accelerant Holdings has a twelve month low of $9.18 and a twelve month high of $30.48.

Accelerant (NYSE:ARX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $273.20 million for the quarter. The business's revenue for the quarter was up 53.5% on a year-over-year basis. As a group, sell-side analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current year.

Institutional Trading of Accelerant

A number of hedge funds have recently modified their holdings of ARX. Militia Capital Management LLC purchased a new position in Accelerant during the first quarter valued at approximately $2,004,000. Royal Bank of Canada grew its stake in shares of Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company's stock worth $103,000 after purchasing an additional 2,585 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Accelerant during the 1st quarter valued at approximately $137,000. SummitTX Capital L.P. lifted its stake in shares of Accelerant by 11.0% in the 1st quarter. SummitTX Capital L.P. now owns 62,999 shares of the technology company's stock valued at $842,000 after purchasing an additional 6,219 shares during the period. Finally, Entropy Technologies LP purchased a new stake in Accelerant during the first quarter worth $239,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARX. Citizens Jmp dropped their price target on Accelerant from $20.00 to $17.00 and set a "market outperform" rating on the stock in a research note on Monday, April 13th. UBS Group set a $16.00 target price on Accelerant in a report on Thursday, May 21st. BMO Capital Markets upped their target price on Accelerant from $16.50 to $17.00 and gave the company an "outperform" rating in a research report on Tuesday, June 16th. Weiss Ratings lowered shares of Accelerant from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, July 20th. Finally, Piper Sandler lifted 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. 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 company's stock. According to MarketBeat, Accelerant currently has an average rating of "Moderate Buy" and a consensus target price of $18.60.

About Accelerant

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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