Transmarket Holdings LP Makes New $1.77 Million Investment in Accelerant Holdings $ARX

Transmarket Holdings LP bought a new position in shares of Accelerant Holdings (NYSE:ARX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 89,851 shares of the company’s stock, valued at approximately $1,773,000. Accelerant accounts for approximately 1.0% of Transmarket Holdings LP’s investment portfolio, making the stock its 22nd biggest holding.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Accelerant by 998.8% in the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $35,000 after acquiring an additional 1,598 shares during the period. Sterling Capital Management LLC boosted its holdings in Accelerant by 543.3% during the third quarter. Sterling Capital Management LLC now owns 1,885 shares of the company’s stock worth $37,000 after buying an additional 1,592 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Accelerant during the third quarter valued at $38,000. State of Wyoming acquired a new stake in Accelerant during the first quarter valued at $28,000. Finally, PNC Financial Services Group Inc. increased its holdings in Accelerant by 73.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the company’s stock valued at $82,000 after buying an additional 2,611 shares in the last quarter.

Accelerant Stock Up 0.0%

ARX opened at $19.82 on Thursday. The company has a market cap of $4.30 billion, a PE ratio of -2.98 and a beta of 0.08. Accelerant Holdings has a twelve month low of $9.18 and a twelve month high of $19.90. The company has a 50-day moving average price of $19.75 and a 200 day moving average price of $14.98. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.16.

Accelerant (NYSE:ARX) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.16 by $0.16. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. The company had revenue of $303.90 million during the quarter. Sell-side analysts expect that Accelerant Holdings will post 0.90 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ARX shares. Royal Bank Of Canada downgraded Accelerant from a “moderate buy” rating to a “hold” rating and set a $20.25 price target on the stock. in a research report on Friday, August 14th. Raymond James Financial cut Accelerant from a “market perform” rating to an “underperform” rating in a research report on Wednesday, September 23rd. Weiss Ratings raised Accelerant from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Piper Sandler downgraded Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 target price for the company. in a research note on Thursday, August 13th. Finally, Morgan Stanley decreased their target price 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. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Accelerant presently has an average rating of “Hold” and an average target price of $17.98.

Insider Activity at Accelerant

In related news, Director Nancy Hasley sold 20,489 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $19.56, for a total value of $400,764.84. Following the completion of the transaction, the director directly owned 1,341,834 shares of the company’s stock, valued at approximately $26,246,273.04. This represents a 1.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Oneill sold 89,219 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $12.41, for a total value of $1,107,207.79. Following the completion of the transaction, the insider owned 6,369,290 shares in the company, valued at $79,042,888.90. The trade was a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 333,866 shares of company stock valued at $4,218,452. 66.59% of the stock is owned by insiders.

About Accelerant

Accelerant Holdings is a technology-enabled specialty insurance platform that connects managing general agents (MGAs) with insurance and reinsurance capital providers. The company aims to help MGAs access capacity and support capital partners with data, underwriting insight and portfolio management tools.

Its services include underwriting support, risk selection, portfolio analytics and technology designed to improve the exchange of information between specialty insurance distributors and capacity providers.