Accelerant (NYSE:ARX) Sees Strong Trading Volume - What's Next?

Key Points

• Accelerant shares traded actively, with about 1.89 million shares changing hands, while the stock was nearly flat at $19.55.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $18.95, with several firms recently lowering targets or downgrading the shares.
• The company beat quarterly earnings expectations, reporting $0.32 EPS versus a $0.16 consensus on $356.9 million in revenue, although insiders have sold more than 1.2 million shares worth $16.5 million over the past 90 days.

Shares of Accelerant Holdings (NYSE:ARX - Get Free Report) saw unusually-high trading volume on Friday . Approximately 1,891,496 shares changed hands during trading, a decline of 13% from the previous session's volume of 2,182,307 shares.The stock last traded at $19.55 and had previously closed at $19.57.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company reduced 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. Morgan Stanley dropped their price objective on shares of Accelerant from $16.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, July 6th. Citizens Jmp lowered shares of Accelerant from a "market outperform" rating to a "hold" rating in a research report on Friday, August 14th. BMO Capital Markets upped their price objective on shares of Accelerant from $16.50 to $17.00 and gave the company an "outperform" rating in a research report on Tuesday, June 16th. Finally, William Blair cut shares of Accelerant from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 13th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Accelerant presently has a consensus rating of "Hold" and an average price target of $18.95.

Accelerant Trading Up 0.2%

The firm has a market capitalization of $4.28 billion and a P/E ratio of -2.95. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $13.81 and a 200-day moving average price of $13.33.

Accelerant (NYSE:ARX - Get Free Report) last issued its earnings results on Thursday, August 13th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.16 by $0.16. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%.The firm had revenue of $356.90 million during the quarter. Analysts anticipate that Accelerant Holdings will post 0.87 earnings per share for the current year.

Insider Transactions at Accelerant

In related news, CEO Jeffrey L. 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 value of $1,390,255.80. Following the sale, the chief executive officer owned 27,751,939 shares of the company's stock, valued at $405,178,309.40. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis James Oneill sold 110,467 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 6,626,772 shares in the company, valued at approximately $96,949,674.36. The trade was a 1.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,236,729 shares of company stock valued at $16,547,245 over the last ninety days. 66.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Accelerant

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new position in shares of Accelerant in the 1st quarter worth approximately $28,000. Quarry LP acquired a new stake in Accelerant in the 3rd quarter valued at $40,000. PNC Financial Services Group Inc. bought a new stake in Accelerant in the third quarter valued at $42,000. Royal Bank of Canada grew its position in 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 acquiring an additional 2,585 shares during the period. Finally, CWM LLC bought a new stake in Accelerant in the fourth quarter valued at $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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