Wall Street Zen Downgrades Accel Entertainment (NYSE:ACEL) to Buy

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

Separately, Zacks Research lowered shares of Accel Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Accel Entertainment Stock Up 0.8%

Shares of NYSE ACEL opened at $11.22 on Friday. Accel Entertainment has a 52-week low of $9.02 and a 52-week high of $13.27. The company has a debt-to-equity ratio of 2.15, a quick ratio of 2.56 and a current ratio of 2.64. The stock has a market cap of $945.31 million, a P/E ratio of 28.04 and a beta of 1.12. The firm has a 50 day moving average price of $11.64 and a 200 day moving average price of $11.26.

Insider Transactions at Accel Entertainment

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $11.11, for a total value of $277,750.00. Following the sale, the director owned 248,135 shares in the company, valued at approximately $2,756,779.85. The trade was a 9.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 75,000 shares of company stock valued at $857,500. 18.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Accel Entertainment

Several hedge funds have recently made changes to their positions in the business. Hill Path Capital LP acquired a new position in shares of Accel Entertainment during the 2nd quarter worth approximately $32,828,000. Millennium Management LLC grew its stake in shares of Accel Entertainment by 252.5% in the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after buying an additional 359,948 shares in the last quarter. Invesco Ltd. raised its position in Accel Entertainment by 24.7% during the first quarter. Invesco Ltd. now owns 912,129 shares of the company’s stock worth $9,048,000 after acquiring an additional 180,868 shares in the last quarter. Midwest Trust Co bought a new stake in shares of Accel Entertainment in the 2nd quarter valued at about $2,057,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Accel Entertainment by 60.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 391,350 shares of the company’s stock valued at $4,606,000 after buying an additional 147,653 shares during the last quarter. 55.39% of the stock is owned by institutional investors.

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.