Deer Park Road Corp purchased a new stake in shares of Accelerant Holdings (NYSE:ARX – Free Report) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 4,594,265 shares of the company’s stock, valued at approximately $90,645,000. Accelerant comprises 83.9% of Deer Park Road Corp’s investment portfolio, making the stock its biggest position.
Several other institutional investors have also modified their holdings of the company. State of Wyoming acquired a new stake in shares of Accelerant in the 1st quarter worth about $28,000. GAMMA Investing LLC lifted its position in Accelerant by 998.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $35,000 after purchasing an additional 1,598 shares during the last quarter. Sterling Capital Management LLC lifted its position in Accelerant by 543.3% in the 3rd quarter. Sterling Capital Management LLC now owns 1,885 shares of the company’s stock valued at $37,000 after purchasing an additional 1,592 shares during the last quarter. Versant Capital Management Inc bought a new stake in Accelerant in the 3rd quarter valued at about $38,000. Finally, PNC Financial Services Group Inc. boosted its stake in Accelerant by 73.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the company’s stock valued at $82,000 after purchasing an additional 2,611 shares during the period.
Insider Activity at Accelerant
In related news, Director Nancy Hasley sold 20,489 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $19.56, for a total value of $400,764.84. Following the completion of the transaction, the director owned 1,341,834 shares in the company, valued at $26,246,273.04. This represents a 1.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey Radke sold 95,223 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $14.60, for a total transaction of $1,390,255.80. Following the transaction, the chief executive officer directly owned 27,751,939 shares in the company, valued at approximately $405,178,309.40. The trade was a 0.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 661,771 shares of company stock worth $9,005,696. 66.59% of the stock is currently owned by corporate insiders.
Accelerant Price Performance
Shares of ARX opened at $19.77 on Friday. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of -2.97 and a beta of 0.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.53 and a current ratio of 1.53. Accelerant Holdings has a one year low of $9.18 and a one year high of $19.90. The stock’s fifty day moving average is $19.75 and its 200-day moving average is $15.94.
Accelerant (NYSE:ARX – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. The business had revenue of $303.90 million for the quarter. Equities analysts anticipate that Accelerant Holdings will post 0.90 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. William Blair cut shares of Accelerant from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Royal Bank Of Canada lowered shares of Accelerant from a “moderate buy” rating to a “hold” rating and set a $20.25 price target on the stock. in a research note on Friday, August 14th. Weiss Ratings raised Accelerant from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Citigroup downgraded Accelerant from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Finally, Morgan Stanley decreased their price objective on Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.98.
Get Our Latest Analysis on ARX
Accelerant Profile
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.
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