Accelerant (NYSE:ARX) CEO Sells $964,800.00 in Stock

Key Points

• CEO Jeffrey Radke sold 80,000 Accelerant shares for approximately $964,800 at an average price of $12.06 under a pre-arranged Rule 10b5-1 trading plan. He retained 27.7 million shares valued at about $333.7 million.
• Accelerant shares rose 0.8% to $12.12, while the company recently reported quarterly EPS of $0.17, slightly above estimates, and revenue of $273.2 million, up 53.5% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, with 10 Buy, two Hold and one Sell recommendation and an average price target of $18.60.

Accelerant Holdings (NYSE:ARX - Get Free Report) CEO Jeffrey Radke sold 80,000 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $12.06, for a total transaction of $964,800.00. Following the completion of the sale, the chief executive officer owned 27,671,939 shares in the company, valued at $333,723,584.34. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Up 0.8%

NYSE:ARX traded up $0.10 during trading hours on Tuesday, hitting $12.12. The company's stock had a trading volume of 1,414,279 shares, compared to its average volume of 2,521,886. Accelerant Holdings has a 52-week low of $9.18 and a 52-week high of $30.48. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.64 billion and a P/E ratio of -1.74. The stock has a fifty day moving average of $13.57 and a 200-day moving average of $13.21.

Accelerant (NYSE:ARX - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) 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 business had revenue of $273.20 million during the quarter. The firm's quarterly revenue was up 53.5% on a year-over-year basis. On average, equities analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARX has been the topic of several research reports. Piper Sandler raised their price objective on Accelerant from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Citizens Jmp dropped their price objective on shares of Accelerant from $20.00 to $17.00 and set a "market outperform" rating on the stock in a research note on Monday, April 13th. Wells Fargo & Company reduced their target price on shares of Accelerant from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. UBS Group set a $16.00 target price on shares of Accelerant in a report on Thursday, May 21st. Finally, Morgan Stanley dropped their price target on shares of Accelerant from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday, July 6th. 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 company currently has an average rating of "Moderate Buy" and an average price target of $18.60.

Institutional Investors Weigh In On Accelerant

Institutional investors have recently modified their holdings of the company. State of Wyoming purchased a new position in shares of Accelerant in the first quarter valued at $28,000. Quarry LP acquired a new position in Accelerant during the third quarter worth about $40,000. PNC Financial Services Group Inc. acquired a new position in Accelerant during the third quarter worth about $42,000. Royal Bank of Canada lifted its holdings in shares of Accelerant by 50.3% in 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 in the last quarter. Finally, CWM LLC acquired a new stake in shares of Accelerant in the fourth quarter valued at approximately $109,000.

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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