Jeffrey Radke Sells 80,000 Shares of Accelerant (NYSE:ARX) Stock

Key Points

• CEO Jeffrey Radke sold 80,000 Accelerant shares at an average price of $12.09, generating $967,200. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan, leaving him with about 27.6 million shares.
• Accelerant shares recently traded at $12.51, well below their 52-week high of $30.48. The company reported quarterly EPS of $0.17, slightly above expectations, while revenue rose 53.5% year over year to $273.2 million.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $18.60; 10 analysts rate the stock a Buy, two a Hold, and one a Sell.

Accelerant Holdings (NYSE:ARX - Get Free Report) CEO Jeffrey Radke sold 80,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.09, for a total transaction of $967,200.00. Following the completion of the sale, the chief executive officer directly owned 27,591,939 shares of the company's stock, valued at approximately $333,586,542.51. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Price Performance

Shares of NYSE:ARX traded up $0.47 during trading hours on Tuesday, hitting $12.51. 1,282,591 shares of the company's stock traded hands, compared to its average volume of 1,536,920. The company has a market cap of $2.73 billion and a price-to-earnings ratio of -1.79. Accelerant Holdings has a 52 week low of $9.18 and a 52 week high of $30.48. The company's fifty day simple moving average is $13.25 and its two-hundred day simple moving average is $13.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61.

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 for the quarter, topping the consensus estimate of $0.16 by $0.01. The business 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%.Accelerant's revenue was up 53.5% on a year-over-year basis. As a group, equities analysts anticipate that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Institutional Trading of Accelerant

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ARX shares. Piper Sandler increased their price target on Accelerant from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. BMO Capital Markets boosted their price objective on Accelerant from $16.50 to $17.00 and gave the stock an "outperform" rating in a report on Tuesday, June 16th. Morgan Stanley reduced their price objective on shares of Accelerant from $16.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, July 6th. Wells Fargo & Company decreased their target price 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. Finally, Citizens Jmp dropped their target price on shares of Accelerant from $20.00 to $17.00 and set a "market outperform" rating on the stock in a research report on Monday, April 13th. 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 company. According to data from MarketBeat.com, Accelerant has an average rating of "Moderate Buy" and an average target price 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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