Insider Buying: Accel Entertainment (NYSE:ACEL) Director Acquires 10,000 Shares of Stock

Accel Entertainment, Inc. (NYSE:ACEL) Director David Ruttenberg acquired 10,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $9.34 per share, for a total transaction of $93,400.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at approximately $93,400. This represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Accel Entertainment Stock Down 0.4%

Shares of ACEL stock traded down $0.04 during midday trading on Tuesday, reaching $11.44. 554,478 shares of the stock were exchanged, compared to its average volume of 459,669. Accel Entertainment, Inc. has a 1 year low of $9.02 and a 1 year high of $13.31. The firm has a market cap of $951.67 million, a PE ratio of 19.06 and a beta of 1.05. The company’s 50 day moving average is $11.34 and its two-hundred day moving average is $10.96. The company has a current ratio of 2.61, a quick ratio of 2.55 and a debt-to-equity ratio of 2.11.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The company had revenue of $341.45 million for the quarter, compared to analyst estimates of $335.66 million. Accel Entertainment had a return on equity of 27.49% and a net margin of 3.87%. On average, equities research analysts predict that Accel Entertainment, Inc. will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Accel Entertainment

Large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new position in Accel Entertainment in the 3rd quarter worth about $49,000. Osaic Holdings Inc. increased its stake in Accel Entertainment by 456.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock valued at $66,000 after purchasing an additional 4,608 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Accel Entertainment by 195.9% in the second quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock worth $84,000 after buying an additional 4,700 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Accel Entertainment in the fourth quarter worth about $118,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Accel Entertainment in the first quarter worth approximately $110,000. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ACEL shares. Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 5th. Citizens Jmp upped their price objective on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 4th. Citigroup initiated coverage on shares of Accel Entertainment in a report on Friday, December 5th. They set an “outperform” rating for the company. Finally, Truist Financial boosted their price target on Accel Entertainment from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.75.

About Accel Entertainment

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.