Nancy Hasley Sells 35,000 Shares of Accelerant (NYSE:ARX) 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 transaction of $458,850.00. Following the sale, the director owned 1,362,323 shares of the company’s stock, valued at approximately $17,860,054.53. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 firm has a market cap 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 12-month low of $9.18 and a 12-month high of $31.18. The company’s fifty day simple moving average is $14.39 and its 200 day simple moving average is $13.77.

Accelerant (NYSE:ARX) last issued its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, topping 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 firm had revenue of $273.20 million during the quarter. The company’s quarterly revenue was up 53.5% on a year-over-year basis. On average, analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current year.

Institutional Trading of Accelerant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARX. Security Benefit Life Insurance Co. KS acquired a new position in Accelerant during the 3rd quarter worth approximately $80,797,000. Capital World Investors acquired a new stake in Accelerant in the third quarter valued at approximately $85,666,000. Alliancebernstein L.P. bought a new stake in shares of Accelerant during the third quarter valued at approximately $41,529,000. Vanguard Group Inc. bought a new stake in shares of Accelerant during the third quarter valued at approximately $33,482,000. Finally, Deer Park Road Corp bought a new stake in shares of Accelerant during the third quarter valued at approximately $29,692,000.

Wall Street Analyst Weigh In

ARX has been the subject of several recent analyst reports. Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Raymond James Financial increased their price target on Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Wells Fargo & Company raised their price objective on shares of Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. BMO Capital Markets raised their price objective on shares of Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Finally, Citizens Jmp lowered 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 research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.90.

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.