Jeffrey Radke Sells 80,000 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $12.87, for a total value of $1,029,600.00. Following the completion of the sale, the chief executive officer owned 28,101,939 shares of the company’s stock, valued at $361,671,954.93. The trade was a 0.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Up 9.2%

Shares of ARX opened at $12.79 on Thursday. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $31.18. 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 stock has a 50 day simple moving average of $14.28 and a two-hundred day simple moving average of $13.70. The firm has a market cap of $2.79 billion and a P/E ratio of -1.84.

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 analysts’ consensus estimates 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 firm had revenue of $273.20 million during the quarter. The business’s revenue for the quarter was up 53.5% on a year-over-year basis. On average, analysts forecast that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accelerant

Large investors have recently added to or reduced their stakes in the company. Militia Capital Management LLC purchased a new position in shares of Accelerant in the first quarter valued at about $2,004,000. Royal Bank of Canada boosted its holdings in shares of Accelerant by 50.3% during 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 period. The Manufacturers Life Insurance Company bought a new stake in shares of Accelerant in the first quarter worth about $137,000. SummitTX Capital L.P. grew its stake in shares of Accelerant by 11.0% in the first quarter. SummitTX Capital L.P. now owns 62,999 shares of the technology company’s stock worth $842,000 after purchasing an additional 6,219 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in Accelerant during the 1st quarter valued at about $239,000.

Analysts Set New Price Targets

Several analysts have issued reports on ARX shares. Morgan Stanley upped their price target on shares of Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Wells Fargo & Company boosted their target price on Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Raymond James Financial increased their target price on Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, BMO Capital Markets raised their price target on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Ten 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.90.

Trending Headlines about Accelerant

Here are the key news stories impacting Accelerant this week:

• Positive Sentiment: Accelerant announced an enhanced partnership with Lloyd’s of London through the launch of the ARX Consortium, backed by seven Lloyd’s syndicates. The move broadens its specialty risk capacity and supports a more diversified portfolio, which investors may view as a growth and credibility boost. Article Title
• Positive Sentiment: Incline P&C Group said it is deepening its partnership with Accelerant, with Incline serving as a fronting carrier for more than $500 million in annual gross written premiums across Accelerant’s U.S. commercial specialty insurance portfolio. That suggests expanding distribution and premium flow. Article Title
• Neutral Sentiment: Analyst coverage remains generally constructive, with a consensus Moderate Buy rating and a target price well above recent trading levels, which can help support sentiment but is not a fresh catalyst.

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.