Accelerant (NYSE:ARX) CEO Jeffrey Radke Sells 80,000 Shares

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 80,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $12.06, for a total transaction of $964,800.00. Following the completion of the sale, the chief executive officer directly owned 27,671,939 shares in the company, valued at $333,723,584.34. This trade represents a 0.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Up 0.8%

ARX stock opened at $12.12 on Wednesday. The company’s 50 day simple moving average is $13.57 and its 200-day simple moving average is $13.21. The firm has a market capitalization of $2.64 billion and a PE ratio of -1.74. Accelerant Holdings has a 12 month low of $9.18 and a 12 month high of $30.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61.

Accelerant (NYSE:ARX) last issued its quarterly earnings data 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 negative net margin of 135.47% and a positive return on equity of 49.99%. The business had revenue of $273.20 million during the quarter. Accelerant’s revenue for the quarter was up 53.5% on a year-over-year basis. Equities analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARX. Piper Sandler boosted their price target on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Wells Fargo & Company decreased their price objective on Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. UBS Group set a $16.00 price objective on Accelerant in a research report on Thursday, May 21st. Raymond James Financial boosted their target price on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Citizens Jmp reduced their target price on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. Ten investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.60.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. purchased a new position in shares of Accelerant during the 3rd quarter worth $165,000. PNC Financial Services Group Inc. acquired a new stake in shares of Accelerant during the third quarter worth $42,000. Vanguard Group Inc. purchased a new stake in shares of Accelerant in the third quarter valued at $33,482,000. Jefferies Financial Group Inc. purchased a new stake in shares of Accelerant in the third quarter valued at $149,000. Finally, Legal & General Group Plc purchased a new stake in shares of Accelerant in the third quarter valued at $149,000.

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.