Accelerant Holdings (NYSE:ARX) Stock Has Consensus Target Price of $17.98 According to Brokerages

Shares of Accelerant Holdings (NYSE:ARX) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $17.98.

Several equities analysts have weighed in on ARX shares. Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Raymond James Financial lowered shares of Accelerant from a “market perform” rating to an “underperform” rating in a research note on Wednesday, September 23rd. Piper Sandler cut shares of Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 price target for the company. in a research note on Thursday, August 13th. Citizens Jmp downgraded Accelerant from a “market outperform” rating to a “hold” rating in a research report on Friday, August 14th. Finally, William Blair lowered shares of Accelerant from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 13th.

Accelerant Stock Performance

Accelerant stock opened at $19.73 on Thursday. The stock has a 50-day simple moving average of $17.98 and a 200 day simple moving average of $15.28. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. Accelerant has a 12-month low of $9.18 and a 12-month high of $19.90. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -2.97 and a beta of 0.08.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. The firm had revenue of $303.90 million for the quarter. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. On average, research analysts anticipate that Accelerant will post 0.9 earnings per share for the current fiscal year.

Insider Activity at Accelerant

In other news, CEO Jeffrey L. Radke sold 95,223 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $14.60, for a total value of $1,390,255.80. Following the transaction, the chief executive officer owned 27,751,939 shares of the company’s stock, valued at approximately $405,178,309.40. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Matthew David Sternberg sold 17,568 shares of Accelerant stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $14.64, for a total value of $257,195.52. Following the sale, the chief operating officer directly owned 596,482 shares of the company’s stock, valued at approximately $8,732,496.48. The trade was a 2.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 741,771 shares of company stock valued at $10,060,096 in the last 90 days. Insiders own 66.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARX. Versant Capital Management Inc bought a new position in Accelerant during the third quarter worth about $38,000. WINTON GROUP Ltd grew its position in Accelerant by 59.4% during the second quarter. WINTON GROUP Ltd now owns 22,000 shares of the company’s stock worth $258,000 after buying an additional 8,200 shares in the last quarter. Engineers Gate Manager LP grew its position in Accelerant by 123.5% during the second quarter. Engineers Gate Manager LP now owns 98,354 shares of the company’s stock worth $1,153,000 after buying an additional 54,338 shares in the last quarter. Arizona State Retirement System increased its stake in Accelerant by 48.6% during the 2nd quarter. Arizona State Retirement System now owns 16,108 shares of the company’s stock worth $189,000 after acquiring an additional 5,270 shares during the period. Finally, Militia Capital Management LLC bought a new position in Accelerant during the 1st quarter worth $2,004,000.

About Accelerant

Accelerant Holdings is a global specialty insurance platform that connects managing general agents (MGAs) with insurance capacity providers. Through its risk exchange, the company supports the development, underwriting and distribution of specialty insurance products across niche and complex risks.

Accelerant provides participating MGAs with access to underwriting capacity, data and analytics, technology, and other operational resources. Its model is designed to help specialty insurance businesses expand their offerings while giving capacity providers access to a diversified portfolio of insurance risks.

Founded in 2018, Accelerant serves insurance professionals across markets including North America, the United Kingdom, Europe and Australia.