Accelerant (NYSE:ARX) Insider Francis James Oneill Sells 73,500 Shares

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 73,500 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $13.06, for a total transaction of $959,910.00. Following the transaction, the insider owned 6,976,625 shares of the company’s stock, valued at $91,114,722.50. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The stock was sold at an average price of $13.11, for a total transaction of $1,002,443.04.
• On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The shares were sold at an average price of $13.21, for a total transaction of $931,780.56.

Accelerant Trading Down 7.4%

Shares of NYSE:ARX opened at $11.70 on Wednesday. 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 company’s 50-day moving average price is $14.32 and its 200 day moving average price is $13.71. The company has a market cap of $2.55 billion and a PE ratio of -1.68. Accelerant Holdings has a fifty-two week low of $9.18 and a fifty-two week high of $31.18.

Accelerant (NYSE:ARX) last posted its earnings results 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 firm had revenue of $273.20 million during the quarter. The business’s revenue for the quarter was up 53.5% on a year-over-year basis. Sell-side analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Accelerant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in Accelerant by 0.6% during the fourth quarter. Teacher Retirement System of Texas now owns 176,043 shares of the technology company’s stock worth $2,878,000 after purchasing an additional 1,043 shares in the last quarter. State of Wyoming bought a new stake in shares of Accelerant in the 1st quarter worth $28,000. Royal Bank of Canada raised its stake in shares of Accelerant by 50.3% in 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. PNC Financial Services Group Inc. lifted its holdings in shares of Accelerant by 73.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the technology company’s stock valued at $82,000 after buying an additional 2,611 shares during the period. Finally, Quarry LP acquired a new stake in shares of Accelerant in the third quarter valued at $40,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ARX shares. Citizens Jmp decreased 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. UBS Group set a $16.00 target price on Accelerant in a research note on Thursday, May 21st. Morgan Stanley increased their price target on Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Wells Fargo & Company raised their price target on Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, Weiss Ratings upgraded shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Accelerant has a consensus rating of “Moderate Buy” and a consensus target price of $18.90.

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.