Accel Entertainment, Inc. $ACEL Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in shares of Accel Entertainment, Inc. (NYSE:ACEL) by 105.6% in the 4th quarter, Holdings Channel reports. The firm owned 118,610 shares of the company’s stock after purchasing an additional 60,917 shares during the period. Hsbc Holdings PLC’s holdings in Accel Entertainment were worth $1,352,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Engineers Gate Manager LP raised its position in shares of Accel Entertainment by 8.7% in the second quarter. Engineers Gate Manager LP now owns 11,960 shares of the company’s stock valued at $141,000 after buying an additional 956 shares during the last quarter. Cerity Partners LLC raised its holdings in Accel Entertainment by 3.9% in the 2nd quarter. Cerity Partners LLC now owns 30,763 shares of the company’s stock valued at $362,000 after acquiring an additional 1,145 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Accel Entertainment by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,083 shares of the company’s stock worth $248,000 after purchasing an additional 1,694 shares in the last quarter. Zacks Investment Management boosted its holdings in shares of Accel Entertainment by 9.4% during the 3rd quarter. Zacks Investment Management now owns 23,647 shares of the company’s stock worth $262,000 after purchasing an additional 2,035 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Accel Entertainment by 7.8% in the fourth quarter. MetLife Investment Management LLC now owns 29,035 shares of the company’s stock valued at $331,000 after purchasing an additional 2,110 shares during the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACEL. Truist Financial upped their target price on Accel Entertainment from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, March 4th. Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Citizens Jmp lifted their target price 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. Wall Street Zen lowered shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research cut Accel Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Accel Entertainment has an average rating of “Moderate Buy” and a consensus target price of $14.67.

Insider Buying and Selling at Accel Entertainment

In other news, Director Gordon Rubenstein sold 12,931 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $11.55, for a total value of $149,353.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Mark T. Phelan sold 25,000 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 transaction of $325,000.00. Following the completion of the sale, the chief operating officer directly owned 241,464 shares in the company, valued at approximately $3,139,032. This trade represents a 9.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 104,277 shares of company stock worth $1,259,917 over the last ninety days. Company insiders own 14.47% of the company’s stock.

Accel Entertainment Stock Performance

Shares of ACEL stock opened at $12.72 on Thursday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.64 and a current ratio of 2.71. The firm has a market cap of $1.04 billion, a P/E ratio of 21.20 and a beta of 1.00. The firm’s 50 day moving average price is $12.27 and its 200-day moving average price is $11.66. Accel Entertainment, Inc. has a one year low of $9.55 and a one year high of $14.00.

Accel Entertainment (NYSE:ACEL) last announced its earnings results on Tuesday, May 5th. The company reported $0.17 earnings per share (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 company had revenue of $351.56 million for the quarter, compared to analyst estimates of $342.88 million. As a group, equities research analysts predict that Accel Entertainment, Inc. will post 0.7 EPS for the current year.

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.