Shares of Accelerant Holdings (NYSE:ARX – Get Free Report) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $17.98.
Several equities analysts recently commented on the stock. Morgan Stanley reduced their price objective 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. Royal Bank Of Canada downgraded shares of Accelerant from a “moderate buy” rating to a “hold” rating and set a $20.25 price objective on the stock. in a research report on Friday, August 14th. Raymond James Financial lowered Accelerant from a “market perform” rating to an “underperform” rating in a research report on Wednesday, September 23rd. Citigroup downgraded Accelerant from an “outperform” rating to a “market perform” rating in a report on Thursday, August 13th. Finally, Piper Sandler lowered shares of Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 target price for the company. in a research report on Thursday, August 13th.
View Our Latest Report on Accelerant
Insider Activity at Accelerant
In other news, insider Francis Oneill sold 89,219 shares of the 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 sale, the insider owned 6,369,290 shares of the company’s stock, valued at approximately $79,042,888.90. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Hasley sold 20,489 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $19.56, for a total transaction of $400,764.84. Following the completion of the transaction, the director directly owned 1,341,834 shares in the company, valued at $26,246,273.04. This represents a 1.50% 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 ninety days, insiders sold 253,866 shares of company stock valued at $3,253,652. Corporate insiders own 66.59% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Accelerant by 998.8% during 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 raised its position in shares of Accelerant by 543.3% in the third quarter. Sterling Capital Management LLC now owns 1,885 shares of the company’s stock valued at $37,000 after buying an additional 1,592 shares during the last quarter. Versant Capital Management Inc purchased a new stake in Accelerant in the 3rd quarter valued at $38,000. State of Wyoming purchased a new position in shares of Accelerant during the 1st quarter worth $28,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Accelerant by 73.6% in 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 last quarter.
Accelerant Price Performance
Accelerant stock opened at $19.83 on Monday. 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 has a 12 month low of $9.18 and a 12 month high of $19.90. The company has a market capitalization of $4.31 billion, a PE ratio of -2.98 and a beta of 0.08. The stock has a 50-day moving average price of $19.76 and a two-hundred day moving average price of $15.02.
Accelerant (NYSE:ARX – Get Free Report) last issued its earnings results on Thursday, August 13th. The 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 $303.90 million during the quarter. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. Analysts expect that Accelerant will post 0.90 EPS for the current year.
Accelerant Company 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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