Macquarie Issues Positive Forecast for Accel Entertainment (NYSE:ACEL) Stock Price

Accel Entertainment (NYSE:ACEL) had its price objective upped by stock analysts at Macquarie from $15.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 55.95% from the company’s previous close.

Accel Entertainment Stock Down 12.4 %

Shares of NYSE ACEL traded down $1.45 during mid-day trading on Friday, hitting $10.26. The company had a trading volume of 133,029 shares, compared to its average volume of 281,279. The company has a current ratio of 2.71, a quick ratio of 2.63 and a debt-to-equity ratio of 2.54. The firm has a 50-day simple moving average of $11.20 and a two-hundred day simple moving average of $11.39. The company has a market capitalization of $844.81 million, a PE ratio of 20.23 and a beta of 1.46. Accel Entertainment has a one year low of $9.37 and a one year high of $12.96.

Insider Activity

In other news, insider Derek Harmer sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.70, for a total transaction of $117,000.00. Following the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $2,333,132.10. This trade represents a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David W. Ruttenberg sold 25,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.50, for a total value of $287,500.00. Following the transaction, the director now owns 360,635 shares in the company, valued at approximately $4,147,302.50. This trade represents a 6.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,577 shares of company stock valued at $1,090,072 in the last quarter. Company insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd increased its stake in shares of Accel Entertainment by 32.4% in the 4th quarter. Covestor Ltd now owns 4,294 shares of the company’s stock valued at $46,000 after purchasing an additional 1,051 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Accel Entertainment during the 4th quarter valued at about $51,000. Russell Investments Group Ltd. grew its position in shares of Accel Entertainment by 11,304.3% during the 4th quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company’s stock worth $56,000 after buying an additional 5,200 shares during the period. Point72 Asset Management L.P. bought a new stake in Accel Entertainment in the 3rd quarter valued at about $64,000. Finally, Quantbot Technologies LP acquired a new position in Accel Entertainment during the third quarter worth $78,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

About Accel Entertainment

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.