Accelerant (NYSE:ARX) Trading Up 9.2% – Should You Buy?

Accelerant Holdings (NYSE:ARX) shares traded up 9.2% during trading on Wednesday . The company traded as high as $12.48 and last traded at $12.7990. 181,508 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,386,211 shares. The stock had previously closed at $11.72.

Wall Street Analyst Weigh In

ARX has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report 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. Citizens Jmp lowered their price target on Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. Raymond James Financial upped their price target on shares of Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Finally, BMO Capital Markets raised their price objective on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.90.

Accelerant Stock Up 8.8%

The stock has a market cap of $2.78 billion and a PE ratio of -1.83. 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 moving average price of $14.32 and a two-hundred day moving average price of $13.71.

Accelerant (NYSE:ARX) last released its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The company had revenue of $273.20 million for the quarter. The firm’s revenue was up 53.5% compared to the same quarter last year. Analysts expect that Accelerant Holdings will post 0.73 EPS for the current year.

Insider Transactions at Accelerant

In other news, Director Nancy Hasley sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total transaction of $458,850.00. Following the completion of the transaction, the director directly owned 1,362,323 shares of the company’s stock, valued at $17,860,054.53. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Also, CEO Jeffrey L. Radke sold 80,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $12.87, for a total transaction of $1,029,600.00. Following the transaction, the chief executive officer owned 28,101,939 shares in the company, valued at approximately $361,671,954.93. This trade represents a 0.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 415,500 shares of company stock worth $5,431,384 over the last three months. 66.59% of the stock is currently owned by company insiders.

Institutional Trading of Accelerant

A number of hedge funds have recently bought and sold shares of ARX. State of Wyoming purchased a new position in Accelerant in the first quarter worth about $28,000. Quarry LP bought a new position in shares of Accelerant in the 3rd quarter worth approximately $40,000. PNC Financial Services Group Inc. purchased a new position in shares of Accelerant in the third quarter worth approximately $42,000. CWM LLC bought a new stake in Accelerant during the fourth quarter valued at approximately $109,000. Finally, Royal Bank of Canada grew its position in Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after buying an additional 2,585 shares during the period.

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.