Accel Entertainment (NYSE:ACEL) Shares Up 4.7%


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Accel Entertainment, Inc. (NYSE:ACEL) shot up 4.7% during mid-day trading on Thursday . The company traded as high as $11.62 and last traded at $11.57. 490 shares traded hands during trading, a decline of 100% from the average session volume of 242,685 shares. The stock had previously closed at $11.05.

A number of research firms recently issued reports on ACEL. The Goldman Sachs Group lifted their price target on Accel Entertainment from $14.50 to $15.50 and gave the company a “buy” rating in a report on Tuesday, January 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Accel Entertainment from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, March 22nd. Macquarie began coverage on Accel Entertainment in a research report on Monday, March 15th. They issued a “neutral” rating and a $13.00 price objective for the company. Zacks Investment Research upgraded Accel Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 15th. Finally, JPMorgan Chase & Co. began coverage on Accel Entertainment in a research report on Thursday. They issued an “overweight” rating and a $13.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $13.58.

The company has a debt-to-equity ratio of 2.09, a quick ratio of 3.99 and a current ratio of 3.99. The company has a 50-day moving average of $11.09 and a 200-day moving average of $10.55. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -32.50 and a beta of 1.27.

In other news, CEO Andrew H. Rubenstein sold 14,077 shares of the business’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $11.03, for a total transaction of $155,269.31. Following the transaction, the chief executive officer now directly owns 4,212,206 shares in the company, valued at approximately $46,460,632.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew H. Rubenstein sold 25,000 shares of Accel Entertainment stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $11.12, for a total transaction of $278,000.00. Following the sale, the chief executive officer now directly owns 4,226,283 shares of the company’s stock, valued at approximately $46,996,266.96. The disclosure for this sale can be found here. Insiders sold a total of 120,046 shares of company stock valued at $1,339,626 over the last quarter. 19.51% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new stake in shares of Accel Entertainment during the 4th quarter worth about $111,000. ProShare Advisors LLC bought a new stake in shares of Accel Entertainment during the 4th quarter worth about $113,000. Victory Capital Management Inc. bought a new stake in shares of Accel Entertainment during the 4th quarter worth about $115,000. Citigroup Inc. boosted its holdings in shares of Accel Entertainment by 374.2% during the 4th quarter. Citigroup Inc. now owns 12,254 shares of the company’s stock worth $124,000 after buying an additional 9,670 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of Accel Entertainment during the 4th quarter worth about $129,000. 47.59% of the stock is owned by institutional investors and hedge funds.

Accel Entertainment Company Profile (NYSE:ACEL)

Accel Entertainment, Inc operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of video game terminals (VGTs); redemption devices that disburse winnings and contain 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.

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