Accelerant (NYSE:ARX) Director Sells $458,850.00 in Stock

Accelerant Holdings (NYSE:ARX) Director Nancy Hasley sold 35,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total value of $458,850.00. Following the transaction, the director directly owned 1,362,323 shares in the company, valued at approximately $17,860,054.53. This represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Price Performance

ARX stock opened at $13.71 on Friday. The stock has a market capitalization of $2.99 billion and a price-to-earnings ratio of -1.97. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. Accelerant Holdings has a 52-week low of $9.18 and a 52-week high of $31.18. The stock’s fifty day simple moving average is $14.39 and its 200-day simple moving average is $13.77.

Accelerant (NYSE:ARX) last released its earnings results on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $273.20 million during the quarter. The company’s quarterly revenue was up 53.5% compared to the same quarter last year. Equities research analysts expect that Accelerant Holdings will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ARX shares. Weiss Ratings upgraded shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. 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. TD Cowen cut their target price on Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. BMO Capital Markets lifted their target price on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, June 16th. Finally, Piper Sandler upped their price target on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Accelerant presently has a consensus rating of “Moderate Buy” and an average target price of $18.90.

Institutional Investors Weigh In On Accelerant

Several institutional investors have recently bought and sold shares of ARX. State of Wyoming acquired a new stake in shares of Accelerant in the first quarter worth $28,000. Quarry LP purchased a new stake in Accelerant during the 3rd quarter worth $40,000. PNC Financial Services Group Inc. acquired a new stake in Accelerant in the 3rd quarter valued at $42,000. CWM LLC purchased a new position in Accelerant in the fourth quarter valued at about $109,000. Finally, Royal Bank of Canada raised its position in Accelerant by 50.3% in the first 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 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.