Lazard Asset Management LLC Buys 38,351 Shares of Accel Entertainment, Inc. (NYSE:ACEL)

Lazard Asset Management LLC lifted its stake in Accel Entertainment, Inc. (NYSE:ACEL) by 40.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,214 shares of the company’s stock after buying an additional 38,351 shares during the quarter. Lazard Asset Management LLC owned about 0.16% of Accel Entertainment worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd grew its position in shares of Accel Entertainment by 32.4% during the fourth quarter. Covestor Ltd now owns 4,294 shares of the company’s stock worth $46,000 after purchasing an additional 1,051 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Accel Entertainment during the fourth quarter worth about $51,000. Russell Investments Group Ltd. grew its position in shares of Accel Entertainment by 11,304.3% during the fourth quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company’s stock worth $56,000 after purchasing an additional 5,200 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Accel Entertainment by 483.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,422 shares of the company’s stock worth $79,000 after purchasing an additional 6,151 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Accel Entertainment during the fourth quarter worth about $91,000. Institutional investors own 55.39% of the company’s stock.

Wall Street Analyst Weigh In

ACEL has been the subject of several research analyst reports. Macquarie restated an “outperform” rating and set a $16.00 price target on shares of Accel Entertainment in a report on Tuesday, May 6th. Northland Securities raised their price target on Accel Entertainment to $15.00 and gave the company a “buy” rating in a report on Thursday, May 1st.

Insider Buying and Selling at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $11.73, for a total value of $293,250.00. Following the completion of the sale, the director now directly owns 298,135 shares of the company’s stock, valued at $3,497,123.55. This trade represents a 7.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Derek Harmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $10.00, for a total value of $50,000.00. Following the completion of the sale, the insider now directly owns 216,575 shares of the company’s stock, valued at $2,165,750. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,000 shares of company stock worth $979,750 in the last quarter. 19.17% of the stock is owned by corporate insiders.

Accel Entertainment Stock Performance

NYSE ACEL opened at $11.72 on Monday. The stock has a market capitalization of $992.25 million, a PE ratio of 22.99 and a beta of 1.22. The business has a 50 day simple moving average of $10.65 and a two-hundred day simple moving average of $11.06. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.71 and a quick ratio of 2.63. Accel Entertainment, Inc. has a 1-year low of $9.02 and a 1-year high of $12.96.

Accel Entertainment Company Profile

Accel Entertainment, Inc, together with its subsidiaries, operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of gaming terminals; redemption devices that disburse winnings and contain automated teller machine (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.