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

Accelerant Price Performance

Shares of NYSE ARX opened at $13.06 on Thursday. The stock has a fifty day moving average price of $14.18 and a 200 day moving average price of $13.62. 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 company has a market cap of $2.85 billion and a PE ratio of -1.87.

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

Wall Street Analyst Weigh In

ARX has been the subject of a number of recent analyst reports. Raymond James Financial raised their price objective on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Citizens Jmp reduced their price target on Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Wells Fargo & Company upped their price objective on Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Piper Sandler raised their target price on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, TD Cowen lowered their price target on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.70.

Hedge Funds Weigh In On Accelerant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new position in shares of Accelerant during the 3rd quarter worth approximately $165,000. PNC Financial Services Group Inc. purchased a new stake in Accelerant in the 3rd quarter valued at approximately $42,000. Vanguard Group Inc. acquired a new stake in Accelerant during the 3rd quarter valued at $33,482,000. Jefferies Financial Group Inc. acquired a new stake in Accelerant during the 3rd quarter valued at $149,000. Finally, Legal & General Group Plc purchased a new position in Accelerant during the third quarter worth $149,000.

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.