Derek Harmer Sells 20,000 Shares of Accel Entertainment (NYSE:ACEL) Stock

Accel Entertainment, Inc. (NYSE:ACEL) insider Derek Harmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $13.00, for a total value of $260,000.00. Following the completion of the sale, the insider directly owned 187,827 shares of the company’s stock, valued at $2,441,751. This trade represents a 9.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accel Entertainment Trading Down 0.4%

Shares of Accel Entertainment stock opened at $13.08 on Wednesday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.64 and a current ratio of 2.71. Accel Entertainment, Inc. has a 52 week low of $9.55 and a 52 week high of $14.00. The stock has a 50 day moving average price of $11.98 and a two-hundred day moving average price of $11.47. The stock has a market capitalization of $1.06 billion, a PE ratio of 21.79 and a beta of 1.01.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ACEL. Wall Street Zen cut Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Citizens Jmp lifted their target price on Accel Entertainment from $13.00 to $14.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 4th. Truist Financial lifted their target price 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 cut Accel Entertainment from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Zacks Research cut Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Institutional Trading of Accel Entertainment

A number of hedge funds have recently bought and sold shares of ACEL. AQR Capital Management LLC lifted its holdings in Accel Entertainment by 13.1% during the first quarter. AQR Capital Management LLC now owns 160,415 shares of the company’s stock worth $1,591,000 after acquiring an additional 18,643 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Accel Entertainment during the first quarter worth $110,000. Millennium Management LLC lifted its holdings in Accel Entertainment by 252.5% during the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock worth $4,985,000 after acquiring an additional 359,948 shares during the period. Jane Street Group LLC lifted its holdings in Accel Entertainment by 157.5% during the first quarter. Jane Street Group LLC now owns 37,108 shares of the company’s stock worth $368,000 after acquiring an additional 22,695 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Accel Entertainment by 10.2% during the second quarter. Rhumbline Advisers now owns 81,054 shares of the company’s stock worth $954,000 after acquiring an additional 7,501 shares during the period. 55.39% of the stock is currently owned by institutional investors.

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.