Insider Selling: Accelerant (NYSE:ARX) Insider Sells $1,616,132.21 in Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 110,467 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $14.63, for a total transaction of $1,616,132.21. Following the completion of the sale, the insider directly owned 6,626,772 shares of the company’s stock, valued at approximately $96,949,674.36. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, July 28th, Francis James Oneill sold 104,647 shares of Accelerant stock. The stock was sold at an average price of $14.56, for a total transaction of $1,523,660.32.
• On Thursday, June 25th, Francis James Oneill sold 73,500 shares of Accelerant stock. The shares were sold at an average price of $13.06, for a total transaction of $959,910.00.
• 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.
• 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 transaction of $931,780.56.

Accelerant Stock Up 5.8%

NYSE ARX opened at $11.85 on Friday. Accelerant Holdings has a twelve month low of $9.18 and a twelve month high of $30.48. The stock has a market cap of $2.58 billion and a PE ratio of -1.70. The firm has a 50-day simple moving average of $13.77 and a 200 day simple moving average of $13.28. 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 (NYSE:ARX) last issued its quarterly earnings results 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. The firm had revenue of $273.20 million for the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The business’s revenue for the quarter was up 53.5% compared to the same quarter last year. On average, research analysts forecast that Accelerant Holdings will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

ARX has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. Morgan Stanley reduced their target price on Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. UBS Group set a $16.00 price target on shares of Accelerant in a research note on Thursday, May 21st. Wells Fargo & Company lowered their price target on shares of Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Finally, Citizens Jmp dropped their price objective on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. Ten investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.60.

Hedge Funds Weigh In On Accelerant

Hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. bought a new position in shares of Accelerant during the 3rd quarter worth approximately $41,529,000. Balyasny Asset Management L.P. grew its position in Accelerant by 35.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,733,595 shares of the technology company’s stock valued at $44,694,000 after acquiring an additional 714,811 shares during the period. Azora Capital LP grew its position in Accelerant by 288.9% in the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock valued at $39,879,000 after acquiring an additional 1,811,976 shares during the period. Vanguard Group Inc. acquired a new position in Accelerant during the third quarter worth $33,482,000. Finally, JPMorgan Chase & Co. raised its stake in Accelerant by 21.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,952,996 shares of the technology company’s stock worth $31,931,000 after acquiring an additional 342,133 shares in the last quarter.

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.