UBS Group AG Has $8.76 Million Stake in Accelerant Holdings $ARX

UBS Group AG boosted its position in Accelerant Holdings (NYSE:ARX) by 331.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 535,637 shares of the technology company’s stock after buying an additional 411,612 shares during the period. UBS Group AG owned approximately 0.24% of Accelerant worth $8,758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ARX. Quarry LP acquired a new position in Accelerant in the third quarter valued at $40,000. PNC Financial Services Group Inc. acquired a new position in Accelerant in the third quarter valued at $42,000. CWM LLC acquired a new position in Accelerant in the fourth quarter valued at $109,000. Jefferies Financial Group Inc. acquired a new position in shares of Accelerant during the third quarter valued at about $149,000. Finally, Legal & General Group Plc acquired a new position in shares of Accelerant during the third quarter valued at about $149,000.

Accelerant Price Performance

Shares of NYSE ARX opened at $15.43 on Monday. The firm’s 50-day moving average price is $12.96 and its 200-day moving average price is $13.43. Accelerant Holdings has a 1-year low of $9.18 and a 1-year high of $31.18. The firm has a market capitalization of $3.43 billion and a P/E ratio of -2.21. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17.

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. The company had revenue of $273.20 million during the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. Accelerant’s revenue was up 53.5% compared to the same quarter last year. Equities research analysts anticipate that Accelerant Holdings will post 0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Accelerant from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Morgan Stanley dropped their price objective on shares of Accelerant from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Citizens Jmp dropped 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. Wells Fargo & Company upgraded shares of Accelerant from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $17.00 to $15.00 in a report on Friday, March 20th. Finally, Weiss Ratings lowered shares of Accelerant from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.17.

Insider Activity at Accelerant

In other news, CFO Jay Michael Green sold 50,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $12.77, for a total transaction of $638,500.00. Following the completion of the sale, the chief financial officer directly owned 1,175,589 shares of the company’s stock, valued at $15,012,271.53. The trade was a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 66.59% of the stock is currently owned by insiders.

Accelerant 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.