Accelerant (NYSE:ARX) Shares Down 6.6% – Time to Sell?

Shares of Accelerant Holdings (NYSE:ARX) fell 6.6% during trading on Monday . The company traded as low as $12.86 and last traded at $12.8350. Approximately 430,312 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,379,681 shares. The stock had previously closed at $13.74.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Citizens Jmp dropped their price objective 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. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. BMO Capital Markets lifted their price target on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Finally, Raymond James Financial lifted their price target on Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Ten investment 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’s stock. According to data from MarketBeat, Accelerant presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.90.

Accelerant Price Performance

The stock has a market cap of $2.79 billion and a price-to-earnings ratio of -1.84. The stock’s 50 day moving average price is $14.39 and its two-hundred day moving average price is $13.75. 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 (NYSE:ARX) last posted its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating 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 business’s revenue was up 53.5% compared to the same quarter last year. Equities research analysts forecast that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Accelerant news, CEO Jeffrey L. Radke sold 80,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total transaction of $1,048,800.00. Following the transaction, the chief executive officer owned 28,181,939 shares in the company, valued at approximately $369,465,220.29. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis James Oneill sold 76,464 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total value of $1,002,443.04. Following the completion of the sale, the insider owned 7,050,125 shares of the company’s stock, valued at $92,427,138.75. This trade represents a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 262,000 shares of company stock valued at $3,441,874. Corporate insiders own 66.59% of the company’s stock.

Hedge Funds Weigh In On Accelerant

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its position in shares of Accelerant by 331.9% during the 4th quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock worth $8,758,000 after purchasing an additional 411,612 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Accelerant in the 3rd quarter worth about $1,075,000. Jefferies Financial Group Inc. increased its stake in Accelerant by 349.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock worth $735,000 after buying an additional 34,980 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Accelerant during the fourth quarter valued at approximately $970,000. Finally, Azora Capital LP lifted its position in shares of Accelerant by 288.9% in the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock valued at $39,879,000 after acquiring an additional 1,811,976 shares in the last quarter.

About Accelerant

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.