Accel Entertainment (NYSE:ACEL) Insider Sells $227,800.00 in Stock

Accel Entertainment, Inc. (NYSE:ACEL) insider Derek Harmer sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $11.39, for a total value of $227,800.00. Following the completion of the transaction, the insider owned 179,963 shares in the company, valued at approximately $2,049,778.57. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, March 10th, Derek Harmer sold 2,092 shares of Accel Entertainment stock. The stock was sold at an average price of $11.45, for a total value of $23,953.40.
• On Tuesday, December 23rd, Derek Harmer sold 5,000 shares of Accel Entertainment stock. The stock was sold at an average price of $11.50, for a total transaction of $57,500.00.

Accel Entertainment Trading Down 1.2%

NYSE ACEL traded down $0.13 during mid-day trading on Monday, hitting $11.16. The company’s stock had a trading volume of 310,275 shares, compared to its average volume of 498,045. Accel Entertainment, Inc. has a 52-week low of $9.02 and a 52-week high of $13.31. The stock’s fifty day simple moving average is $11.34 and its two-hundred day simple moving average is $10.95. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.61 and a quick ratio of 2.55. The firm has a market capitalization of $910.32 million, a P/E ratio of 18.60 and a beta of 1.05.

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

Hedge Funds Weigh In On Accel Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACEL. AQR Capital Management LLC grew its stake in shares of Accel Entertainment by 13.1% during the first quarter. AQR Capital Management LLC now owns 160,415 shares of the company’s stock valued at $1,591,000 after acquiring an additional 18,643 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Accel Entertainment in the first quarter valued at about $110,000. Millennium Management LLC grew its stake in Accel Entertainment by 252.5% during the 1st quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after purchasing an additional 359,948 shares in the last quarter. Jane Street Group LLC grew its stake in Accel Entertainment by 157.5% during the 1st quarter. Jane Street Group LLC now owns 37,108 shares of the company’s stock valued at $368,000 after purchasing an additional 22,695 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Accel Entertainment by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,266,697 shares of the company’s stock worth $14,912,000 after purchasing an additional 26,419 shares during the last quarter. 55.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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