Accel Entertainment (NYSE:ACEL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Accel Entertainment (NYSE:ACEL) from a buy rating to a strong-buy rating in a research report report published on Saturday.

Accel Entertainment Trading Up 0.4%

Shares of NYSE ACEL opened at $11.18 on Friday. Accel Entertainment has a one year low of $9.02 and a one year high of $13.27. The firm has a market capitalization of $942.28 million, a PE ratio of 27.95 and a beta of 1.12. The company has a current ratio of 2.64, a quick ratio of 2.56 and a debt-to-equity ratio of 2.15. The business has a 50-day moving average price of $11.78 and a two-hundred day moving average price of $11.23.

Insider Activity 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 Friday, August 15th. The stock was sold at an average price of $11.10, for a total value of $277,500.00. Following the completion of the sale, the director directly owned 260,635 shares of the company’s stock, valued at $2,893,048.50. This trade represents a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Derek Harmer sold 5,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $11.50, for a total value of $57,500.00. Following the transaction, the insider owned 202,880 shares in the company, valued at approximately $2,333,120. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,000 shares of company stock valued at $637,250 over the last three months. Insiders own 18.33% of the company’s stock.

Institutional Investors Weigh In On Accel Entertainment

Institutional investors have recently made changes to their positions in the stock. Hill Path Capital LP purchased a new stake in Accel Entertainment in the second quarter worth about $32,828,000. Millennium Management LLC increased its position in shares of Accel Entertainment by 252.5% during the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after acquiring an additional 359,948 shares in the last quarter. Invesco Ltd. grew its position in Accel Entertainment by 24.7% in the 1st quarter. Invesco Ltd. now owns 912,129 shares of the company’s stock worth $9,048,000 after purchasing an additional 180,868 shares during the period. Midwest Trust Co bought a new stake in Accel Entertainment in the 2nd quarter worth approximately $2,057,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Accel Entertainment by 60.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 391,350 shares of the company’s stock worth $4,606,000 after purchasing an additional 147,653 shares during the period. Hedge funds and other institutional investors 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.