Nancy Hasley Sells 20,489 Shares of Accelerant (NYSE:ARX) Stock

Key Points

• Director Nancy Hasley sold 20,489 Accelerant shares for approximately $400,765 under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 1.5% to 1.34 million shares.
• Accelerant reported second-quarter adjusted EPS of $0.32, beating the $0.16 consensus estimate, on revenue of $356.9 million.
• Thoma Bravo has agreed to acquire Accelerant for about $4 billion, or $20.25 per share in cash; the stock is trading near that offer price, while shareholder law firms investigate the deal’s fairness and potential conflicts.

Accelerant Holdings (NYSE:ARX - Get Free Report) Director Nancy Hasley sold 20,489 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $19.56, for a total value of $400,764.84. Following the transaction, the director owned 1,341,834 shares of the company's stock, valued at approximately $26,246,273.04. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nancy Hasley also recently made the following trade(s):

• On Tuesday, June 23rd, Nancy Hasley sold 35,000 shares of Accelerant stock. The shares were sold at an average price of $13.11, for a total value of $458,850.00.

Accelerant Stock Performance

Shares of Accelerant stock traded up $0.07 during midday trading on Friday, hitting $19.59. The company had a trading volume of 19,772,775 shares, compared to its average volume of 2,101,169. Accelerant Holdings has a 1-year low of $9.18 and a 1-year high of $30.48. The business's 50 day simple moving average is $13.27 and its two-hundred day simple moving average is $13.15. The stock has a market cap of $4.27 billion and a PE ratio of -2.81. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61.

Accelerant (NYSE:ARX - Get Free Report) last released its earnings results on Thursday, August 13th. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The firm had revenue of $356.90 million during the quarter. As a group, equities analysts predict that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Accelerant News Roundup

Here are the key news stories impacting Accelerant this week:

• Positive Sentiment: Thoma Bravo will acquire Accelerant for approximately $4 billion, with shareholders receiving $20.25 in cash per share. The all-cash offer represents a substantial premium to ARX’s pre-announcement trading level and is the primary catalyst for the stock’s surge. Reuters Thoma Bravo acquisition article
• Positive Sentiment: Accelerant’s second-quarter earnings also beat expectations: adjusted EPS was $0.32 versus the $0.16 consensus, while revenue reached $356.9 million. Results benefited from premium growth, higher fee revenue and stronger Exchange Services performance. Accelerant second-quarter earnings report
• Neutral Sentiment: ARX is trading near the proposed cash consideration, leaving relatively limited upside if the merger closes as planned. Citizens JMP reaffirmed a “market perform” rating, while William Blair downgraded the shares to “hold” or “market perform,” indicating that the deal largely resets the investment case. William Blair rating downgrade
• Negative Sentiment: Several law firms, including Kahn Swick & Foti, Ademi and Julie & Holleman, are investigating whether the $20.25 offer and sale process adequately protect public shareholders. Alleged conflicts involving controlling shareholder Altamont Capital Partners could create litigation, delay or transaction-completion risks. Kahn Swick and Foti investor investigation

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. William Blair cut shares of Accelerant from an "outperform" rating to a "market perform" rating in a research note on Thursday. UBS Group set a $16.00 price target on Accelerant in a research note on Thursday, May 21st. BMO Capital Markets upped their price target on Accelerant from $16.50 to $17.00 and gave the company an "outperform" rating in a report on Tuesday, June 16th. Morgan Stanley decreased their price objective on Accelerant from $16.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, July 6th. Finally, Piper Sandler cut Accelerant from an "overweight" rating to a "hold" rating and set a $20.25 price objective on the stock. in a research report on Thursday. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $18.95.

Institutional Trading of Accelerant

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new position in Accelerant in the third quarter worth about $165,000. PNC Financial Services Group Inc. bought a new stake in shares of Accelerant in the 3rd quarter valued at approximately $42,000. Vanguard Group Inc. bought a new stake in shares of Accelerant in the 3rd quarter valued at approximately $33,482,000. Jefferies Financial Group Inc. acquired a new position in shares of Accelerant in the 3rd quarter worth approximately $149,000. Finally, Legal & General Group Plc acquired a new position in shares of Accelerant in the 3rd quarter worth approximately $149,000.

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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