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

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 70,536 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 7,126,589 shares of the company’s stock, valued at $94,142,240.69. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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, 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.

Accelerant Stock Performance

Shares of ARX opened at $13.34 on Thursday. The company’s 50 day moving average price is $14.39 and its 200 day moving average price is $13.78. Accelerant Holdings has a 52 week low of $9.18 and a 52 week high of $31.18. The company has a market capitalization of $2.91 billion and a PE ratio of -1.91. 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 released its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $273.20 million during the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. Research analysts expect that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ARX. Morgan Stanley increased their price objective on Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Citizens Jmp dropped their target price on Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. BMO Capital Markets upped their target price on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Finally, Raymond James Financial lifted their price target on Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.90.

Hedge Funds Weigh In On Accelerant

Several hedge funds have recently bought and sold shares of ARX. State of Wyoming bought a new position in Accelerant during the first quarter valued at about $28,000. Quarry LP bought a new stake in shares of Accelerant during the 3rd quarter worth about $40,000. PNC Financial Services Group Inc. bought a new stake in shares of Accelerant during the 3rd quarter worth about $42,000. Royal Bank of Canada boosted its stake in shares of Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after acquiring an additional 2,585 shares in the last quarter. Finally, CWM LLC acquired a new position in shares of Accelerant during the 4th quarter valued at about $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.