Accelerant (NYSE:ARX) Insider Francis James Oneill Sells 73,500 Shares of Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 73,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $13.06, for a total transaction of $959,910.00. Following the completion of the transaction, the insider owned 6,976,625 shares of the company’s stock, valued at approximately $91,114,722.50. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The stock was sold at an average price of $13.11, for a total transaction of $1,002,443.04.
• On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The stock was sold at an average price of $13.21, for a total transaction of $931,780.56.

Accelerant Trading Down 7.7%

Shares of NYSE ARX opened at $12.69 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. Accelerant Holdings has a 52-week low of $9.18 and a 52-week high of $31.18. The firm has a 50 day moving average price of $14.37 and a two-hundred day moving average price of $13.74. The stock has a market cap of $2.77 billion and a P/E ratio of -1.82.

Accelerant (NYSE:ARX) last issued its quarterly 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 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. The company’s revenue was up 53.5% compared to the same quarter last year. As a group, equities analysts forecast that Accelerant Holdings will post 0.73 EPS for the current year.

Hedge Funds Weigh In On Accelerant

Hedge funds and other institutional investors have recently bought and sold shares of the company. Security Benefit Life Insurance Co. KS acquired a new stake in Accelerant during the 3rd quarter worth about $80,797,000. Capital World Investors bought a new position in shares of Accelerant in the 3rd quarter worth about $85,666,000. Alliancebernstein L.P. acquired a new position in shares of Accelerant in the 3rd quarter valued at about $41,529,000. Balyasny Asset Management L.P. lifted its stake in shares of Accelerant by 35.4% in 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 purchasing an additional 714,811 shares during the period. Finally, Azora Capital LP lifted its stake in shares of Accelerant by 288.9% in the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock valued at $39,879,000 after purchasing an additional 1,811,976 shares during the period.

Analysts Set New Price Targets

Several brokerages have commented on ARX. BMO Capital Markets lifted their target price on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Piper Sandler increased their price target on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Wells Fargo & Company raised their price objective on Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. UBS Group set a $16.00 price objective on Accelerant in a research note on Thursday, May 21st. Finally, TD Cowen reduced their target price on Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.90.

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.