Jefferies Financial Group Inc. Has $735,000 Position in Accelerant Holdings $ARX

Jefferies Financial Group Inc. raised its position in shares of Accelerant Holdings (NYSE:ARX) by 349.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,980 shares of the technology company’s stock after purchasing an additional 34,980 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Accelerant were worth $735,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in Accelerant by 0.6% during the 4th quarter. Teacher Retirement System of Texas now owns 176,043 shares of the technology company’s stock valued at $2,878,000 after purchasing an additional 1,043 shares during the period. Quarry LP acquired a new position in shares of Accelerant in the third quarter worth $40,000. PNC Financial Services Group Inc. acquired a new position in shares of Accelerant in the third quarter worth $42,000. CWM LLC acquired a new position in shares of Accelerant in the fourth quarter worth $109,000. Finally, Wesbanco Bank Inc. acquired a new position in shares of Accelerant in the fourth quarter worth $164,000.

Analysts Set New Price Targets

ARX has been the topic of a number of research reports. UBS Group set a $16.00 price target on shares of Accelerant in a research note on Thursday, May 21st. TD Cowen dropped their price target on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Wells Fargo & Company upped their price target on shares of Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Piper Sandler upped their price target on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Morgan Stanley upped their price target on shares of Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.85.

Insider Transactions at Accelerant

In related news, CFO Jay Michael Green sold 50,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $12.77, for a total value of $638,500.00. Following the completion of the sale, the chief financial officer directly owned 1,175,589 shares in the company, valued at approximately $15,012,271.53. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 66.59% of the company’s stock.

Accelerant Trading Down 1.5%

Shares of NYSE:ARX opened at $16.03 on Friday. The stock has a market capitalization of $3.50 billion and a PE ratio of -2.30. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $31.18. The firm has a fifty day moving average price of $14.07 and a 200 day moving average price of $13.75. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17.

Accelerant (NYSE:ARX) last issued its quarterly earnings data 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 firm 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 was up 53.5% compared to the same quarter last year. Analysts expect that Accelerant Holdings will post 0.71 EPS for the current fiscal year.

Accelerant 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.