Insider Selling: Accelerant (NYSE:ARX) Insider Sells 89,219 Shares

by · The Cerbat Gem

Accelerant Holdings (NYSE:ARX – Get Free Report) insider Francis James Oneill sold 89,219 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $12.41, for a total transaction of $1,107,207.79. Following the sale, the insider owned 6,369,290 shares in the company, valued at $79,042,888.90. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

  • On Monday, August 10th, Francis James Oneill sold 63,616 shares of Accelerant stock. The stock was sold at an average price of $12.07, for a total value of $767,845.12.
  • On Tuesday, July 28th, Francis James Oneill sold 104,647 shares of Accelerant stock. The stock was sold at an average price of $14.56, for a total value of $1,523,660.32.
  • On Monday, July 27th, Francis James Oneill sold 110,467 shares of Accelerant stock. The stock was sold at an average price of $14.63, for a total value of $1,616,132.21.
  • On Thursday, June 25th, Francis James Oneill sold 73,500 shares of Accelerant stock. The shares were sold at an average price of $13.06, for a total value of $959,910.00.
  • On Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The shares were sold at an average price of $13.11, for a total value of $1,002,443.04.
  • On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The shares were sold at an average price of $13.21, for a total value of $931,780.56.

Accelerant Trading Up 8.4%

Shares of Accelerant stock traded up $1.05 on Wednesday, reaching $13.57. The company had a trading volume of 2,200,380 shares, compared to its average volume of 1,541,257. The firm has a market cap of $2.96 billion and a price-to-earnings ratio of -1.95. 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 firm’s 50-day moving average price is $13.19 and its two-hundred day moving average price is $13.12. Accelerant Holdings has a 1 year low of $9.18 and a 1 year high of $30.48.

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

Hedge Funds Weigh In On Accelerant

A number of hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. purchased a new stake in shares of Accelerant in the third quarter valued at approximately $165,000. PNC Financial Services Group Inc. purchased a new position in Accelerant during the 3rd quarter worth $42,000. Vanguard Group Inc. purchased a new position in Accelerant during the 3rd quarter worth $33,482,000. Jefferies Financial Group Inc. bought a new stake in Accelerant during the 3rd quarter valued at $149,000. Finally, Legal & General Group Plc bought a new stake in Accelerant during the 3rd quarter valued at $149,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARX shares. UBS Group set a $16.00 price objective on shares of Accelerant in a research report on Thursday, May 21st. BMO Capital Markets raised their target price on shares of Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Weiss Ratings raised shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Morgan Stanley dropped their price target on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, July 6th. Finally, Wells Fargo & Company cut their price target on shares of Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.60.

Check Out Our Latest Stock Analysis on Accelerant

Accelerant Company Profile

(Get Free Report)

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.

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