Francis James Oneill Sells 76,464 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 76,464 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total value of $1,002,443.04. Following the completion of the sale, the insider directly owned 7,050,125 shares of the company’s stock, valued at approximately $92,427,138.75. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

• On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The shares were sold at an average price of $13.21, for a total value of $931,780.56.

Accelerant Trading Down 2.3%

Shares of Accelerant stock opened at $13.07 on Friday. The stock has a fifty day simple moving average of $14.39 and a 200 day simple moving average of $13.77. Accelerant Holdings has a 12-month low of $9.18 and a 12-month high of $31.18. The company has a market capitalization of $2.85 billion and a P/E ratio of -1.88. 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 released its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, beating 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 during the quarter. Accelerant’s quarterly revenue was up 53.5% on a year-over-year basis. On average, sell-side analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Raymond James Financial increased their price objective on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. TD Cowen dropped their target price on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Wells Fargo & Company boosted their target price on Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Citizens Jmp reduced their target price on Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Ten equities 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.90.

Institutional Trading of Accelerant

Several hedge funds have recently made changes to their positions in ARX. Security Benefit Life Insurance Co. KS bought a new position in Accelerant during the third quarter worth about $80,797,000. Capital World Investors bought a new stake in shares of Accelerant in the third quarter valued at approximately $85,666,000. Alliancebernstein L.P. purchased a new stake in shares of Accelerant during the 3rd quarter valued at approximately $41,529,000. Balyasny Asset Management L.P. lifted its stake in shares of Accelerant by 35.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,733,595 shares of the technology company’s stock valued at $44,694,000 after buying an additional 714,811 shares in the last quarter. Finally, Azora Capital LP boosted its holdings in Accelerant by 288.9% in the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock worth $39,879,000 after buying an additional 1,811,976 shares during the period.

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.