Accelerant (NYSE:ARX) Insider Sells $767,845.12 in Stock

Key Points

• Insider sale: Francis James Oneill sold 63,616 Accelerant shares for $767,845 at an average price of $12.07 under a pre-arranged Rule 10b5-1 plan. He retained 6.46 million shares worth approximately $78.0 million, while recent transactions show additional sizable sales.
• Stock performance and earnings: ARX shares traded at $13.57, with a market capitalization of about $2.96 billion. The company reported quarterly EPS of $0.17 versus a $0.16 estimate, while revenue rose 53.5% year over year to $273.2 million.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with 10 Buy, two Hold, and one Sell rating and an average price target of $18.60. Recent target changes ranged from $14 at Morgan Stanley to $19 at Piper Sandler and Raymond James.

Accelerant Holdings (NYSE:ARX - Get Free Report) insider Francis James Oneill sold 63,616 shares of Accelerant stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $12.07, for a total value of $767,845.12. Following the transaction, the insider directly owned 6,458,509 shares in the company, valued at approximately $77,954,203.63. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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, August 11th, Francis James Oneill sold 89,219 shares of Accelerant stock. The stock was sold at an average price of $12.41, for a total transaction of $1,107,207.79.
• 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 value of $1,523,660.32.
• On Monday, July 27th, Francis James Oneill sold 110,467 shares of Accelerant stock. The stock was sold at an average price of $14.63, for a total value of $1,616,132.21.
• On Thursday, June 25th, Francis James Oneill sold 73,500 shares of Accelerant stock. The stock was 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 value 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 value of $931,780.56.

Accelerant Price Performance

Shares of NYSE:ARX traded up $1.05 during mid-day trading on Wednesday, reaching $13.57. The stock had a trading volume of 2,200,380 shares, compared to its average volume of 1,541,257. The business's 50 day moving average price is $13.19 and its 200 day moving average price is $13.12. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $30.48. The company has a market cap of $2.96 billion and a P/E ratio of -1.95. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17.

Accelerant (NYSE:ARX - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating 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 business's revenue was up 53.5% on a year-over-year basis. Research analysts expect that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARX. Morgan Stanley reduced 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 report on Monday, July 6th. Weiss Ratings raised shares of Accelerant from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Piper Sandler boosted their target price on shares of Accelerant from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Raymond James Financial upped their target price on shares of Accelerant from $16.00 to $19.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Finally, Wells Fargo & Company lowered their price target 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. Ten 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.60.

Institutional Trading of Accelerant

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Militia Capital Management LLC bought a new stake in Accelerant in the first quarter worth $2,004,000. Renaissance Technologies LLC increased its position in Accelerant by 280.5% during the first quarter. Renaissance Technologies LLC now owns 276,600 shares of the technology company's stock valued at $3,695,000 after acquiring an additional 203,900 shares during the last quarter. UBS Group AG increased its position in Accelerant by 331.9% during the fourth quarter. UBS Group AG now owns 535,637 shares of the technology company's stock valued at $8,758,000 after acquiring an additional 411,612 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Accelerant in the third quarter valued at $1,075,000. Finally, Jefferies Financial Group Inc. raised its stake in shares of Accelerant by 349.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company's stock valued at $735,000 after acquiring an additional 34,980 shares during the period.

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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