Tudor Investment Corp ET AL Makes New $1.08 Million Investment in Accelerant Holdings $ARX

Tudor Investment Corp ET AL purchased a new position in shares of Accelerant Holdings (NYSE:ARX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,173 shares of the technology company’s stock, valued at approximately $1,075,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARX. Pembroke Management LTD bought a new stake in Accelerant during the third quarter worth $1,396,000. Teacher Retirement System of Texas acquired a new position in shares of Accelerant in the third quarter valued at $2,606,000. Allianz Asset Management GmbH acquired a new position in shares of Accelerant in the third quarter valued at $1,063,000. Envestnet Asset Management Inc. acquired a new position in shares of Accelerant in the third quarter valued at $165,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Accelerant in the third quarter valued at $42,000.

Accelerant Trading Up 0.7%

ARX stock opened at $12.86 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. The company’s 50-day simple moving average is $11.76 and its 200 day simple moving average is $13.45. Accelerant Holdings has a 52 week low of $9.18 and a 52 week high of $31.18. The company has a market capitalization of $2.86 billion and a PE ratio of -1.86.

Accelerant (NYSE:ARX) last released its quarterly earnings results on Wednesday, March 18th. The technology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. Accelerant had a negative net margin of 148.33% and a positive return on equity of 67.99%. The business had revenue of $248.40 million for the quarter. The business’s revenue was up 30.3% compared to the same quarter last year.

Insider Activity at Accelerant

In related news, CFO Jay Michael Green sold 50,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $12.77, for a total value of $638,500.00. Following the transaction, the chief financial officer directly owned 1,175,589 shares in the company, valued at approximately $15,012,271.53. This represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 66.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ARX. Morgan Stanley decreased their price objective on shares of Accelerant from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Raymond James Financial reiterated an “outperform” rating and issued a $13.00 price objective on shares of Accelerant in a report on Tuesday, February 17th. Piper Sandler decreased their price objective on shares of Accelerant from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Citizens Jmp decreased 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. Finally, TD Cowen decreased their price objective on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.17.

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.