Connor Clark & Lunn Investment Management Ltd. Has $641,000 Stock Position in Accel Entertainment, Inc. $ACEL

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Accel Entertainment, Inc. (NYSE:ACEL) by 60.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,475 shares of the company’s stock after selling 83,830 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Accel Entertainment were worth $641,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in ACEL. AdvisorShares Investments LLC raised its stake in shares of Accel Entertainment by 3.3% during the 2nd quarter. AdvisorShares Investments LLC now owns 30,942 shares of the company’s stock worth $364,000 after purchasing an additional 1,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Accel Entertainment during the second quarter worth $426,000. R Squared Ltd raised its position in Accel Entertainment by 17.8% during the second quarter. R Squared Ltd now owns 16,842 shares of the company’s stock worth $198,000 after acquiring an additional 2,542 shares in the last quarter. CWM LLC raised its position in Accel Entertainment by 151.7% during the second quarter. CWM LLC now owns 4,992 shares of the company’s stock worth $59,000 after acquiring an additional 3,009 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Accel Entertainment in the second quarter valued at $403,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ACEL shares. Macquarie reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Accel Entertainment in a report on Wednesday, November 5th. Zacks Research downgraded Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Wall Street Zen lowered Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Accel Entertainment in a research note on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Insider Buying and Selling

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $11.11, for a total transaction of $277,750.00. Following the transaction, the director owned 248,135 shares in the company, valued at $2,756,779.85. This trade represents a 9.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.33% of the stock is currently owned by corporate insiders.

Accel Entertainment Price Performance

Accel Entertainment stock opened at $9.63 on Thursday. The company has a market capitalization of $800.90 million, a price-to-earnings ratio of 19.25 and a beta of 1.06. The company has a current ratio of 2.57, a quick ratio of 2.50 and a debt-to-equity ratio of 2.12. Accel Entertainment, Inc. has a 12 month low of $9.02 and a 12 month high of $13.27. The stock’s 50 day moving average is $10.56 and its 200-day moving average is $11.27.

Accel Entertainment Company 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.