Insider Selling: Accel Entertainment (NYSE:ACEL) CEO Sells $300,000.00 in Stock

Accel Entertainment, Inc. (NYSE:ACEL) CEO Mark Phelan sold 25,000 shares of Accel Entertainment stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $12.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer owned 216,464 shares of the company’s stock, valued at approximately $2,597,568. This trade represents a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accel Entertainment Stock Up 12.9%

ACEL stock traded up $1.53 during mid-day trading on Wednesday, reaching $13.39. The company had a trading volume of 1,888,668 shares, compared to its average volume of 435,131. The firm has a fifty day simple moving average of $11.31 and a 200 day simple moving average of $11.71. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.40 and a current ratio of 2.47. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 17.63 and a beta of 1.09. Accel Entertainment, Inc. has a fifty-two week low of $9.55 and a fifty-two week high of $14.00.

Accel Entertainment (NYSE:ACEL) last released its earnings results on Tuesday, November 3rd. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The firm had revenue of $363.56 million for the quarter, compared to analyst estimates of $358.62 million. Accel Entertainment had a net margin of 4.49% and a return on equity of 23.23%. Analysts forecast that Accel Entertainment, Inc. will post 0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACEL. Citigroup restated a “market outperform” rating on shares of Accel Entertainment in a report on Wednesday, August 5th. Truist Financial dropped their target price on Accel Entertainment from $14.00 to $13.00 and set a “hold” rating on the stock in a report on Tuesday, October 20th. National Bank Financial set a $15.00 price target on Accel Entertainment in a research note on Wednesday, August 5th. Wall Street Zen raised Accel Entertainment from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Finally, Citizens Jmp increased their price objective on Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.60.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its position in shares of Accel Entertainment by 63.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock valued at $11,814,000 after buying an additional 421,047 shares during the last quarter. Globeflex Capital L P purchased a new stake in Accel Entertainment in the second quarter valued at $3,894,000. Lazard Asset Management LLC boosted its stake in Accel Entertainment by 17.1% in the first quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock valued at $3,257,000 after acquiring an additional 43,663 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Accel Entertainment in the second quarter valued at $2,643,000. Finally, First Trust Advisors LP boosted its stake in Accel Entertainment by 43.0% in the first quarter. First Trust Advisors LP now owns 203,057 shares of the company’s stock valued at $2,215,000 after acquiring an additional 61,098 shares in the last quarter. Institutional investors and hedge funds own 55.39% of the company’s stock.

Key Accel Entertainment News

Here are the key news stories impacting Accel Entertainment this week:

• Positive Sentiment: Accel reported record third-quarter revenue of about $363.6 million, up year over year and above the roughly $358.6 million consensus estimate. Earnings were $0.25 per share, topping estimates of about $0.18; net income rose 55% and adjusted EBITDA increased 12% year over year. Accel Entertainment reports third-quarter results
• Positive Sentiment: Management outlined plans to roll out gaming locations in Chicago at a pace of 100 to 200 annually. The company also cited a $20 million to $25 million annualized EBITDA target for Fairmount, offering potential avenues for future growth. Accel outlines Chicago rollout and Fairmount target

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services and equipment to non-casino businesses. The company places and operates gaming terminals in locations such as bars, restaurants, taverns, convenience stores, truck stops, and fraternal or veterans organizations, allowing these establishments to offer legal gaming without operating a traditional casino.

Accel manages the installation, maintenance, monitoring, and regulatory compliance of its gaming equipment.