Accel Entertainment (NYSE:ACEL) Insider Derek Harmer Sells 2,092 Shares

Accel Entertainment, Inc. (NYSE:ACEL) insider Derek Harmer sold 2,092 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $11.45, for a total value of $23,953.40. Following the sale, the insider owned 199,963 shares of the company’s stock, valued at approximately $2,289,576.35. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Derek Harmer also recently made the following trade(s):

• On Tuesday, December 23rd, Derek Harmer sold 5,000 shares of Accel Entertainment stock. The shares were sold at an average price of $11.50, for a total value of $57,500.00.
• On Monday, December 15th, Derek Harmer sold 10,000 shares of Accel Entertainment stock. The stock was sold at an average price of $11.11, for a total value of $111,100.00.

Accel Entertainment Stock Down 0.4%

Shares of ACEL traded down $0.05 during midday trading on Thursday, reaching $11.34. 548,903 shares of the stock were exchanged, compared to its average volume of 427,992. Accel Entertainment, Inc. has a 12-month low of $9.02 and a 12-month high of $13.31. The firm has a 50 day simple moving average of $11.34 and a 200-day simple moving average of $10.96. The company has a quick ratio of 2.55, a current ratio of 2.61 and a debt-to-equity ratio of 2.11. The company has a market cap of $943.16 million, a price-to-earnings ratio of 18.89 and a beta of 1.05.

Accel Entertainment (NYSE:ACEL) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. Accel Entertainment had a return on equity of 27.49% and a net margin of 3.87%.The business had revenue of $341.45 million during the quarter, compared to analysts’ expectations of $335.66 million. Research analysts forecast that Accel Entertainment, Inc. will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACEL. Hsbc Holdings PLC lifted its holdings in shares of Accel Entertainment by 105.6% during the fourth quarter. Hsbc Holdings PLC now owns 118,610 shares of the company’s stock worth $1,352,000 after buying an additional 60,917 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Accel Entertainment in the fourth quarter worth $131,000. EP Wealth Advisors LLC bought a new position in Accel Entertainment during the fourth quarter worth $255,000. Empowered Funds LLC acquired a new position in Accel Entertainment during the 4th quarter valued at $1,032,000. Finally, XTX Topco Ltd bought a new stake in Accel Entertainment in the 4th quarter valued at $410,000. 55.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ACEL. 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 raised their price target on shares of Accel Entertainment from $13.00 to $14.00 and gave the company a “market outperform” rating in a report on Wednesday, March 4th. Truist Financial lifted their price objective on shares of Accel Entertainment from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, March 4th. Finally, Citigroup started coverage on shares of Accel Entertainment in a research report on Friday, December 5th. They set an “outperform” rating on the stock. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus 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.