Accelerant (NYSE:ARX) Insider Francis James Oneill Sells 76,464 Shares

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 76,464 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total value of $1,002,443.04. Following the transaction, the insider owned 7,050,125 shares in the company, valued at $92,427,138.75. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

• 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 value of $931,780.56.

Accelerant Trading Up 1.6%

Shares of NYSE ARX traded up $0.21 on Wednesday, reaching $13.34. 1,732,079 shares of the company traded hands, compared to its average volume of 1,343,900. Accelerant Holdings has a fifty-two week low of $9.18 and a fifty-two week high of $31.18. The company has a 50 day moving average of $14.39 and a 200 day moving average of $13.78. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.91 billion and a PE ratio of -1.91.

Accelerant (NYSE:ARX) last announced its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share 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 business had revenue of $273.20 million for the quarter. The company’s quarterly revenue was up 53.5% on a year-over-year basis. On average, equities research analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ARX shares. BMO Capital Markets lifted their price target on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, June 16th. UBS Group set a $16.00 target price on Accelerant in a research report on Thursday, May 21st. Morgan Stanley lifted their target price on Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Finally, Piper Sandler upped their price target on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.90.

Institutional Investors Weigh In On Accelerant

Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. purchased a new stake in shares of Accelerant during the 3rd quarter valued at about $165,000. PNC Financial Services Group Inc. purchased a new position in Accelerant in the 3rd quarter worth approximately $42,000. JPMorgan Chase & Co. acquired a new stake in Accelerant in the third quarter valued at approximately $23,986,000. Vanguard Group Inc. acquired a new stake in Accelerant in the third quarter valued at approximately $33,482,000. Finally, TD Asset Management Inc purchased a new stake in shares of Accelerant during the third quarter valued at approximately $597,000.

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.