Orvieto Partners L.P. Buys 57,292 Shares of Accel Entertainment, Inc. $ACEL

Orvieto Partners L.P. boosted its stake in Accel Entertainment, Inc. (NYSE:ACEL) by 74.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,838 shares of the company’s stock after purchasing an additional 57,292 shares during the quarter. Accel Entertainment comprises approximately 1.2% of Orvieto Partners L.P.’s holdings, making the stock its 25th largest holding. Orvieto Partners L.P.’s holdings in Accel Entertainment were worth $1,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Accel Entertainment by 2.0% during the third quarter. Vanguard Group Inc. now owns 3,896,993 shares of the company’s stock valued at $43,140,000 after purchasing an additional 74,992 shares in the last quarter. Invesco Ltd. boosted its stake in Accel Entertainment by 5.7% during the third quarter. Invesco Ltd. now owns 926,303 shares of the company’s stock valued at $10,254,000 after buying an additional 50,305 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Accel Entertainment by 8.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 857,240 shares of the company’s stock valued at $9,490,000 after buying an additional 65,610 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Accel Entertainment by 177.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 548,952 shares of the company’s stock valued at $6,264,000 after buying an additional 351,012 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Accel Entertainment by 252.5% during the 1st quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after buying an additional 359,948 shares in the last quarter. Institutional investors own 55.39% of the company’s stock.

Accel Entertainment Stock Up 0.1%

Shares of NYSE:ACEL opened at $11.95 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.64 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 $14.00. The company has a 50-day moving average price of $12.41 and a 200 day moving average price of $11.77. The company has a market cap of $972.77 million, a price-to-earnings ratio of 19.92 and a beta of 1.00.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Accel Entertainment had a return on equity of 25.70% and a net margin of 3.79%.The company had revenue of $351.56 million during the quarter, compared to analyst estimates of $342.88 million. As a group, equities research analysts predict that Accel Entertainment, Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Mark T. Phelan sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $13.00, for a total transaction of $325,000.00. Following the transaction, the chief operating officer owned 241,464 shares of the company’s stock, valued at approximately $3,139,032. The trade was a 9.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gordon Rubenstein sold 12,931 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $11.55, for a total value of $149,353.05. The disclosure for this sale is available in the SEC filing. Insiders sold 104,277 shares of company stock valued at $1,259,917 over the last quarter. Company insiders own 14.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ACEL shares. Weiss Ratings raised Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Wall Street Zen lowered shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research cut shares of Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.