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

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $12.87, for a total value of $1,029,600.00. Following the completion of the sale, the chief executive officer directly owned 28,101,939 shares of the company’s stock, valued at $361,671,954.93. The trade was a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Trading Down 7.4%

Shares of NYSE ARX traded down $0.93 during trading hours on Tuesday, hitting $11.70. 1,587,116 shares of the company traded hands, compared to its average volume of 1,396,656. The company’s 50 day moving average price is $14.32 and its 200 day moving average price is $13.71. Accelerant Holdings has a 12 month low of $9.18 and a 12 month high of $31.18. The stock has a market capitalization of $2.55 billion and a price-to-earnings ratio of -1.68. 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) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company had revenue of $273.20 million during the quarter. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. On average, equities research analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. TD Cowen decreased their price target on Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Wells Fargo & Company boosted their price objective on Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Citizens Jmp cut their price objective on Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Finally, Piper Sandler lifted their target price on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.90.

Institutional Trading of Accelerant

Large investors have recently modified their holdings of the company. State of Wyoming purchased a new position in Accelerant during the 1st quarter worth $28,000. Quarry LP bought a new position in shares of Accelerant during the 3rd quarter worth $40,000. PNC Financial Services Group Inc. bought a new position in shares of Accelerant during the 3rd quarter worth $42,000. Royal Bank of Canada grew its position in shares of Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after buying an additional 2,585 shares in the last quarter. Finally, CWM LLC purchased a new position in shares of Accelerant during 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.