Accelerant Holdings (NYSE:ARX) Receives Average Recommendation of “Hold” from Analysts

Shares of Accelerant Holdings (NYSE:ARX) have been given an average rating of “Hold” by the twelve analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $18.95.

ARX has been the subject of several research analyst reports. Raymond James Financial lowered shares of Accelerant from a “moderate buy” rating to a “hold” rating in a report on Monday, August 17th. 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. Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Wells Fargo & Company lowered their price target on Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Morgan Stanley dropped their price target on Accelerant from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, July 6th.

Accelerant Stock Performance

Shares of ARX stock opened at $19.90 on Friday. The stock has a market cap of $4.32 billion, a PE ratio of -2.99 and a beta of 0.08. The stock has a 50-day moving average of $15.25 and a 200-day moving average of $13.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 1.53. Accelerant has a one year low of $9.18 and a one year high of $20.73.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. The firm had revenue of $356.90 million during the quarter. As a group, sell-side analysts expect that Accelerant will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Francis Oneill sold 110,467 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $14.63, for a total value of $1,616,132.21. Following the sale, the insider directly owned 6,626,772 shares of the company’s stock, valued at approximately $96,949,674.36. The trade was a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey L. Radke sold 95,223 shares of the company’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $14.60, for a total transaction of $1,390,255.80. Following the completion of the transaction, the chief executive officer directly owned 27,751,939 shares of the company’s stock, valued at approximately $405,178,309.40. The trade was a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,237,271 shares of company stock worth $16,557,879. Insiders own 66.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARX. State of Wyoming bought a new position in shares of Accelerant in the 1st quarter valued at about $28,000. Quarry LP acquired a new position in Accelerant during the third quarter valued at approximately $40,000. PNC Financial Services Group Inc. bought a new position in Accelerant in the third quarter valued at approximately $42,000. CWM LLC acquired a new position in shares of Accelerant during the 4th quarter worth approximately $109,000. Finally, Royal Bank of Canada raised its stake in shares of Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the company’s stock worth $103,000 after purchasing an additional 2,585 shares in the last quarter.

About Accelerant

Accelerant Holdings, together with its subsidiaries, operates a data-driven risk exchange that connects selected specialty insurance underwriters with risk capital partners. It operates through Exchange Services, MGA Operations, and Underwriting segments. The Exchange Services segment consists of risk exchange, its operating platform that incorporates various technology, data ingestion, and agency operations that serve the needs of its members and risk capital partners. Its Risk capital partners write premiums directly through the Risk Exchange pay us a fixed-percentage, volume-based fee for sourcing, managing, and monitoring the business they write.