Accelerant (NYSE:ARX) CEO Jeffrey Radke Sells 95,223 Shares

Accelerant Holdings (NYSE:ARX) CEO Jeffrey Radke sold 95,223 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $14.60, for a total value of $1,390,255.80. Following the transaction, the chief executive officer owned 27,751,939 shares of the company’s stock, valued at $405,178,309.40. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accelerant Stock Performance

Shares of ARX stock opened at $14.59 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market cap of $3.18 billion and a PE ratio of -2.09. The stock has a 50-day moving average of $14.08 and a 200-day moving average of $13.34. Accelerant Holdings has a one year low of $9.18 and a one year high of $30.48.

Accelerant (NYSE:ARX) last announced its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $273.20 million for the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, sell-side analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ARX. UBS Group set a $16.00 price target on shares of Accelerant in a report on Thursday, May 21st. Weiss Ratings lowered Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 20th. Raymond James Financial boosted their target price on Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. 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, BMO Capital Markets lifted their price objective on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, June 16th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Accelerant currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.60.

Institutional Investors Weigh In On Accelerant

Several institutional investors have recently added to or reduced their stakes in ARX. State of Wyoming bought a new position in Accelerant during the 1st quarter worth about $28,000. Quarry LP bought a new stake in shares of Accelerant in the third quarter valued at about $40,000. PNC Financial Services Group Inc. acquired a new position in shares of Accelerant during the third quarter worth about $42,000. CWM LLC acquired a new position in shares of Accelerant during the fourth quarter worth about $109,000. Finally, Royal Bank of Canada grew its holdings in shares of Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after buying an additional 2,585 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.