FY2024 Earnings Forecast for ACEL Issued By Northland Capmk

Accel Entertainment, Inc. (NYSE:ACEL) – Analysts at Northland Capmk raised their FY2024 earnings estimates for Accel Entertainment in a research note issued to investors on Tuesday, January 21st. Northland Capmk analyst G. Gibas now forecasts that the company will earn $0.86 per share for the year, up from their previous estimate of $0.84. The consensus estimate for Accel Entertainment’s current full-year earnings is $0.79 per share. Northland Capmk also issued estimates for Accel Entertainment’s Q4 2024 earnings at $0.24 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.24 EPS and FY2025 earnings at $0.94 EPS.

Accel Entertainment Price Performance

Shares of ACEL stock opened at $10.99 on Wednesday. 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 has a 12-month low of $9.37 and a 12-month high of $12.96. The firm has a fifty day moving average of $11.17 and a 200-day moving average of $11.19. The firm has a market capitalization of $904.92 million, a price-to-earnings ratio of 21.55 and a beta of 1.46.

Insiders Place Their Bets

In other news, insider Derek Harmer sold 10,000 shares of Accel Entertainment stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.70, for a total transaction of $117,000.00. Following the completion of the transaction, the insider now directly owns 199,413 shares in the company, valued at approximately $2,333,132.10. The trade was a 4.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David W. Ruttenberg sold 70,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $11.73, for a total transaction of $821,100.00. Following the completion of the transaction, the director now directly owns 277,455 shares in the company, valued at approximately $3,254,547.15. This represents a 20.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,577 shares of company stock worth $1,891,172. Corporate insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in Accel Entertainment by 40.7% during the 2nd quarter. Hsbc Holdings PLC now owns 47,204 shares of the company’s stock worth $485,000 after purchasing an additional 13,663 shares during the last quarter. Sei Investments Co. increased its position in Accel Entertainment by 2.1% during the 2nd quarter. Sei Investments Co. now owns 394,385 shares of the company’s stock worth $4,046,000 after buying an additional 8,138 shares during the period. Quarry LP lifted its holdings in shares of Accel Entertainment by 268.4% during the second quarter. Quarry LP now owns 8,642 shares of the company’s stock worth $89,000 after buying an additional 6,296 shares in the last quarter. Greenvale Capital LLP boosted its position in shares of Accel Entertainment by 7.3% in the second quarter. Greenvale Capital LLP now owns 5,848,302 shares of the company’s stock valued at $60,004,000 after acquiring an additional 398,302 shares during the period. Finally, Aristides Capital LLC acquired a new position in shares of Accel Entertainment in the second quarter valued at about $271,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

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.