Francis James Oneill Sells 70,536 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 70,536 shares of Accelerant stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $13.21, for a total transaction of $931,780.56. Following the sale, the insider owned 7,126,589 shares in the company, valued at $94,142,240.69. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The shares were sold at an average price of $13.11, for a total transaction of $1,002,443.04.

Accelerant Stock Performance

NYSE ARX opened at $13.07 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $31.18. The company has a market capitalization of $2.85 billion and a PE ratio of -1.88. The company has a fifty day moving average of $14.39 and a two-hundred day moving average of $13.77.

Accelerant (NYSE:ARX) last posted its earnings results on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $273.20 million for the quarter. The company’s quarterly revenue was up 53.5% compared to the same quarter last year. As a group, analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. BMO Capital Markets lifted 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. Citizens Jmp decreased their price objective on Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Piper Sandler raised their target price on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. TD Cowen cut their target price on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, Raymond James Financial upped their price target 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. 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 stock. Based on data from MarketBeat.com, Accelerant presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.90.

Hedge Funds Weigh In On Accelerant

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in Accelerant during the 1st quarter valued at approximately $28,000. Quarry LP acquired a new stake in Accelerant during the 3rd quarter worth approximately $40,000. PNC Financial Services Group Inc. purchased a new position in shares of Accelerant in the 3rd quarter valued at approximately $42,000. Royal Bank of Canada grew its stake in shares of Accelerant by 50.3% in the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,585 shares during the last quarter. Finally, CWM LLC purchased a new position in shares of Accelerant in the 4th quarter valued at approximately $109,000.

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.