Accel Entertainment (NYSE:ACEL) Shares Down 9.1% – What’s Next?

Accel Entertainment, Inc. (NYSE:ACEL)’s stock price traded down 9.1% on Wednesday . The stock traded as low as $11.16 and last traded at $11.34. 204,154 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 376,938 shares. The stock had previously closed at $12.47.

Analysts Set New Price Targets

ACEL has been the topic of several recent analyst reports. Citizens Jmp boosted their price objective on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research note on Wednesday, March 4th. Weiss Ratings raised Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 9th. Wall Street Zen cut Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Zacks Research raised Accel Entertainment from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Finally, Truist Financial raised their price target on Accel Entertainment from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $14.67.

Accel Entertainment Stock Performance

The company has a fifty day moving average of $11.52 and a two-hundred day moving average of $11.09. The firm has a market capitalization of $949.03 million, a price-to-earnings ratio of 19.39 and a beta of 1.04. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.55 and a current ratio of 2.71.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Accel Entertainment had a net margin of 3.79% and a return on equity of 25.70%. The business had revenue of $351.56 million for the quarter, compared to the consensus estimate of $342.88 million. As a group, equities research analysts predict that Accel Entertainment, Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $11.04, for a total transaction of $276,000.00. Following the sale, the director directly owned 198,135 shares in the company, valued at $2,187,410.40. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gordon Rubenstein sold 228,262 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $11.37, for a total transaction of $2,595,338.94. Following the sale, the director directly owned 313,903 shares of the company’s stock, valued at approximately $3,569,077.11. This trade represents a 42.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 864,247 shares of company stock worth $9,865,047. Company insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its holdings in Accel Entertainment by 13.1% during the 1st quarter. AQR Capital Management LLC now owns 160,415 shares of the company’s stock worth $1,591,000 after purchasing an additional 18,643 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Accel Entertainment during the 1st quarter valued at about $110,000. Millennium Management LLC increased its holdings in Accel Entertainment by 252.5% in the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock worth $4,985,000 after purchasing an additional 359,948 shares in the last quarter. Jane Street Group LLC lifted its stake in Accel Entertainment by 157.5% in the first quarter. Jane Street Group LLC now owns 37,108 shares of the company’s stock valued at $368,000 after buying an additional 22,695 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Accel Entertainment by 10.2% during the 2nd quarter. Rhumbline Advisers now owns 81,054 shares of the company’s stock worth $954,000 after buying an additional 7,501 shares in the last quarter. Institutional investors own 55.39% of the company’s stock.

Accel Entertainment Company Profile

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.