Occudo Quantitative Strategies LP Makes New $134,000 Investment in Accel Entertainment, Inc. (NYSE:ACEL)

Occudo Quantitative Strategies LP purchased a new position in Accel Entertainment, Inc. (NYSE:ACEL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,572 shares of the company’s stock, valued at approximately $134,000.

Several other institutional investors have also modified their holdings of ACEL. Covestor Ltd grew its stake in shares of Accel Entertainment by 32.4% in the fourth quarter. Covestor Ltd now owns 4,294 shares of the company’s stock worth $46,000 after acquiring an additional 1,051 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Accel Entertainment in the fourth quarter worth $51,000. Russell Investments Group Ltd. grew its stake in shares of Accel Entertainment by 11,304.3% during the fourth quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company’s stock worth $56,000 after purchasing an additional 5,200 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Accel Entertainment by 483.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,422 shares of the company’s stock worth $79,000 after purchasing an additional 6,151 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Accel Entertainment during the fourth quarter worth $91,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

Insider Buying and Selling

In related news, Director David W. Ruttenberg sold 25,000 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $11.73, for a total value of $293,250.00. Following the completion of the sale, the director now directly owns 298,135 shares of the company’s stock, valued at $3,497,123.55. The trade was a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Derek Harmer sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $10.00, for a total transaction of $50,000.00. Following the completion of the sale, the insider now directly owns 216,575 shares of the company’s stock, valued at approximately $2,165,750. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,000 shares of company stock worth $979,750. Corporate insiders own 17.90% of the company’s stock.

Analyst Upgrades and Downgrades

ACEL has been the subject of a number of analyst reports. Macquarie reiterated an “outperform” rating and set a $16.00 target price on shares of Accel Entertainment in a research note on Tuesday, May 6th. Northland Securities boosted their target price on shares of Accel Entertainment to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st.

Accel Entertainment Stock Performance

Shares of ACEL stock opened at $11.72 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.63 and a debt-to-equity ratio of 2.54. The firm has a fifty day moving average price of $10.65 and a 200 day moving average price of $11.06. The company has a market cap of $992.25 million, a P/E ratio of 22.99 and a beta of 1.22. Accel Entertainment, Inc. has a 12 month low of $9.02 and a 12 month high of $12.96.

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.