Accelerant (NYSE:ARX) Director Sells $10,634.04 in Stock

Accelerant Holdings (NYSE:ARX) Director Karen Sue Meriwether sold 542 shares of Accelerant stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $19.62, for a total value of $10,634.04. Following the sale, the director directly owned 20,868 shares in the company, valued at approximately $409,430.16. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Accelerant Stock Up 0.1%

ARX stock traded up $0.01 during midday trading on Tuesday, hitting $19.68. 2,010,250 shares of the company’s stock were exchanged, compared to its average volume of 7,820,629. The firm has a 50 day moving average price of $14.20 and a 200-day moving average price of $13.48. Accelerant Holdings has a 12-month low of $9.18 and a 12-month high of $30.00. The stock has a market capitalization of $4.27 billion and a price-to-earnings ratio of -2.96. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.16.

Accelerant (NYSE:ARX) last released its quarterly earnings results on Thursday, August 13th. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. The business had revenue of $356.90 million during the quarter. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. On average, analysts anticipate that Accelerant Holdings will post 0.9 EPS for the current year.

Institutional Trading of Accelerant

Institutional investors and hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas boosted its holdings in shares of Accelerant by 0.6% in 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 buying an additional 1,043 shares during the period. State of Wyoming acquired a new stake in Accelerant during the first quarter worth about $28,000. Royal Bank of Canada raised its stake in 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 acquiring an additional 2,585 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Accelerant by 73.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the technology company’s stock worth $82,000 after acquiring an additional 2,611 shares during the last quarter. Finally, Quarry LP bought a new position in Accelerant in the third quarter worth about $40,000.

Analysts Set New Price Targets

Several brokerages have weighed in on ARX. William Blair lowered shares of Accelerant from an “outperform” rating to a “market perform” rating in a report on Thursday, August 13th. UBS Group set a $16.00 price target on shares of Accelerant in a research report on Thursday, May 21st. Royal Bank Of Canada downgraded Accelerant from a “moderate buy” rating to a “hold” rating and set a $20.25 price target for the company. in a research note on Friday, August 14th. Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Finally, Raymond James Financial cut Accelerant from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 17th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.95.

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.