Balyasny Asset Management L.P. Has $2.25 Million Stake in Accel Entertainment, Inc. (NYSE:ACEL)

Balyasny Asset Management L.P. trimmed its stake in Accel Entertainment, Inc. (NYSE:ACEL) by 28.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,001 shares of the company’s stock after selling 82,658 shares during the period. Balyasny Asset Management L.P. owned about 0.26% of Accel Entertainment worth $2,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACEL. Covestor Ltd boosted its position in shares of Accel Entertainment by 32.4% during the 4th quarter. Covestor Ltd now owns 4,294 shares of the company’s stock valued at $46,000 after acquiring an additional 1,051 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Accel Entertainment during the 4th quarter valued at about $51,000. Russell Investments Group Ltd. boosted 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 valued at $56,000 after acquiring an additional 5,200 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Accel Entertainment by 483.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,422 shares of the company’s stock valued at $79,000 after acquiring an additional 6,151 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Accel Entertainment during the 4th quarter valued at about $91,000. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accel Entertainment

In other Accel Entertainment news, insider Derek Harmer sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 216,575 shares of the company’s stock, valued at approximately $2,165,750. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David W. Ruttenberg sold 25,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $12.35, for a total transaction of $308,750.00. Following the completion of the transaction, the director now directly owns 335,635 shares of the company’s stock, valued at approximately $4,145,092.25. This represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock valued at $686,500 in the last ninety days. Insiders own 19.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Macquarie reissued an “outperform” rating and set a $16.00 price target on shares of Accel Entertainment in a report on Tuesday, May 6th. Northland Securities lifted their price target on shares of Accel Entertainment to $15.00 and gave the company a “buy” rating in a report on Thursday, May 1st.

Accel Entertainment Trading Up 2.4%

Shares of ACEL stock opened at $11.67 on Tuesday. Accel Entertainment, Inc. has a 12-month low of $9.02 and a 12-month high of $12.96. The company has a market capitalization of $998.50 million, a P/E ratio of 22.88 and a beta of 1.22. The firm has a 50-day moving average price of $10.51 and a 200 day moving average price of $11.05. The company has a quick ratio of 2.63, a current ratio of 2.71 and a debt-to-equity ratio of 2.54.

Accel Entertainment 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.