Insider Selling: Accelerant (NYSE:ARX) Insider Sells 104,647 Shares

Key Points

• Insider sale: Francis James Oneill sold 104,647 Accelerant shares for approximately $1.52 million at an average price of $14.56 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 1.58% to 6.52 million shares.
• Stock performance: ARX shares fell $2.25 to $12.47, with trading volume substantially above average. The stock has traded between $9.18 and $30.48 over the past year.
• Analyst outlook: Despite recent target-price reductions, analysts maintain a consensus “Moderate Buy” rating with an average price target of $18.60, implying potential upside from the reported share price.

Accelerant Holdings (NYSE:ARX - Get Free Report) insider Francis James Oneill sold 104,647 shares of Accelerant stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $14.56, for a total value of $1,523,660.32. Following the transaction, the insider owned 6,522,125 shares of the company's stock, valued at $94,962,140. The trade was a 1.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Monday, July 27th, Francis James Oneill sold 110,467 shares of Accelerant stock. The shares were 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 shares were sold at an average price of $13.06, for a total value of $959,910.00.
• On Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The shares were 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 Stock Performance

Shares of ARX stock traded down $2.25 during trading on Wednesday, reaching $12.47. 4,251,021 shares of the company's stock were exchanged, compared to its average volume of 1,490,461. Accelerant Holdings has a twelve month low of $9.18 and a twelve month high of $30.48. The firm's fifty day moving average price is $14.08 and its 200-day moving average price is $13.34. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.72 billion and a PE ratio of -1.79.

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

Hedge Funds Weigh In On Accelerant

Institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming acquired a new position in shares of Accelerant in the first quarter valued at about $28,000. Quarry LP acquired a new stake in Accelerant in the 3rd quarter worth about $40,000. PNC Financial Services Group Inc. bought a new stake in Accelerant in the 3rd quarter valued at about $42,000. Royal Bank of Canada boosted its holdings in Accelerant by 50.3% in the 1st 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 during the period. Finally, CWM LLC acquired a new position in shares of Accelerant during the 4th quarter worth approximately $109,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley reduced their target price on shares of Accelerant from $16.00 to $14.00 and set an "equal weight" rating for the company in a report on Monday, July 6th. Wells Fargo & Company lowered their price target on shares of Accelerant from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. Citizens Jmp reduced 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. Raymond James Financial upped their target price on Accelerant from $16.00 to $19.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Finally, BMO Capital Markets increased 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. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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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