Accel Entertainment (NYSE:ACEL) Director Purchases $577,500.00 in Stock

Accel Entertainment, Inc. (NYSE:ACEL) Director Bruce Wardinski bought 50,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average price of $11.55 per share, for a total transaction of $577,500.00. Following the completion of the acquisition, the director owned 50,000 shares of the company’s stock, valued at approximately $577,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Accel Entertainment Trading Up 0.3%

NYSE:ACEL opened at $11.51 on Thursday. The company’s 50 day moving average is $11.55 and its 200-day moving average is $11.12. The company has a quick ratio of 2.64, a current ratio of 2.71 and a debt-to-equity ratio of 2.02. Accel Entertainment, Inc. has a 12 month low of $9.55 and a 12 month high of $13.31. The firm has a market cap of $938.46 million, a price-to-earnings ratio of 19.18 and a beta of 1.04.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $351.56 million during the quarter, compared to the consensus estimate of $342.88 million. Accel Entertainment had a net margin of 3.79% and a return on equity of 25.70%. Equities analysts anticipate that Accel Entertainment, Inc. will post 0.7 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. acquired a new position in shares of Accel Entertainment during the third quarter valued at about $4,368,000. Millennium Management LLC increased its stake in Accel Entertainment by 252.5% during the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after acquiring an additional 359,948 shares during the period. Goldman Sachs Group Inc. raised its holdings in Accel Entertainment by 177.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 548,952 shares of the company’s stock valued at $6,264,000 after acquiring an additional 351,012 shares in the last quarter. Visualize Group LP acquired a new position in Accel Entertainment in the 3rd quarter valued at approximately $2,280,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Accel Entertainment by 60.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 391,350 shares of the company’s stock worth $4,606,000 after acquiring an additional 147,653 shares during the period. Institutional investors own 55.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACEL. Weiss Ratings downgraded Accel Entertainment from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Zacks Research upgraded Accel Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Wall Street Zen lowered Accel Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Citizens Jmp lifted their price target on Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 4th. Finally, Truist Financial upped their price target on Accel Entertainment from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.67.

About Accel Entertainment

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.