Accelerant (NYSE:ARX) Insider Francis James Oneill Sells 110,467 Shares

Key Points

• Accelerant insider Francis James Oneill sold 110,467 shares at an average price of $14.63, generating approximately $1.62 million. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 6.63 million shares.
• Oneill has made several additional sales since June, including 104,647 shares on July 28, bringing the reported recent sales to more than 425,000 shares.
• ARX shares fell to $12.47 during Wednesday trading, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $18.60. The company’s latest quarterly earnings of $0.17 per share exceeded estimates, and revenue rose 53.5% year over year.

Accelerant Holdings (NYSE:ARX - Get Free Report) insider Francis James Oneill sold 110,467 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $14.63, for a total transaction of $1,616,132.21. Following the completion of the transaction, the insider directly owned 6,626,772 shares of the company's stock, valued at $96,949,674.36. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

• On Tuesday, July 28th, Francis James Oneill sold 104,647 shares of Accelerant stock. The stock was sold at an average price of $14.56, for a total transaction of $1,523,660.32.
• On Thursday, June 25th, Francis James Oneill sold 73,500 shares of Accelerant stock. The shares were sold at an average price of $13.06, for a total transaction of $959,910.00.
• On Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The stock was sold at an average price of $13.11, for a total transaction of $1,002,443.04.
• On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The stock was sold at an average price of $13.21, for a total transaction of $931,780.56.

Accelerant Stock Performance

Shares of NYSE ARX traded down $2.25 during mid-day trading on Wednesday, hitting $12.47. The stock had a trading volume of 4,251,021 shares, compared to its average volume of 1,490,461. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. The company has a 50 day moving average of $14.08 and a two-hundred day moving average of $13.34. Accelerant Holdings has a twelve month low of $9.18 and a twelve month high of $30.48. The firm has a market cap of $2.72 billion and a PE ratio of -1.79.

Accelerant (NYSE:ARX - Get Free Report) last issued its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The company had revenue of $273.20 million during the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The business's revenue for the quarter was up 53.5% on a year-over-year basis. Research analysts predict that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Militia Capital Management LLC purchased a new position in shares of Accelerant in the 1st quarter valued at about $2,004,000. Royal Bank of Canada boosted its position in Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company's stock worth $103,000 after acquiring an additional 2,585 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Accelerant during the 1st quarter valued at about $137,000. SummitTX Capital L.P. raised its holdings in 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 acquiring an additional 6,219 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Accelerant in the 1st quarter valued at about $239,000.

Analyst Ratings Changes

Several research firms have recently commented on ARX. Raymond James Financial upped their price objective on shares of Accelerant from $16.00 to $19.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Morgan Stanley reduced their price objective on Accelerant from $16.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, July 6th. Citizens Jmp decreased their price objective on Accelerant from $20.00 to $17.00 and set a "market outperform" rating for the company in a report on Monday, April 13th. BMO Capital Markets upped their target price on Accelerant from $16.50 to $17.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 16th. Finally, Piper Sandler raised their target price on Accelerant from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Accelerant presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.60.

Accelerant Company Profile

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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