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, July 6th. The shares were sold at an average price of $13.33, for a total transaction of $1,066,400.00. Following the completion of the transaction, the chief executive officer owned 28,021,939 shares of the company’s stock, valued at $373,532,446.87. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Price Performance

NYSE:ARX traded up $0.18 during trading hours on Tuesday, hitting $13.43. The stock had a trading volume of 3,120,091 shares, compared to its average volume of 2,048,740. The firm has a market capitalization of $2.93 billion and a price-to-earnings ratio of -1.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The company has a 50 day simple moving average of $14.19 and a two-hundred day simple moving average of $13.64. Accelerant Holdings has a one year low of $9.18 and a one year high of $31.18.

Accelerant (NYSE:ARX) last announced its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $273.20 million for the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. Research analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State of Wyoming purchased a new stake in Accelerant in the first quarter worth approximately $28,000. Quarry LP bought a new stake in shares of Accelerant in the third quarter worth $40,000. PNC Financial Services Group Inc. bought a new position in Accelerant in the third quarter valued at about $42,000. Royal Bank of Canada boosted its position in Accelerant by 50.3% in the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,585 shares during the last quarter. Finally, CWM LLC bought a new stake in shares of Accelerant during the 4th quarter valued at about $109,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARX. Citizens Jmp cut their price objective on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. UBS Group set a $16.00 price objective on shares of Accelerant in a research note on Thursday, May 21st. Raymond James Financial increased their price target on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Morgan Stanley reduced their price target on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Ten equities 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.70.

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.