Accel Entertainment (NYSE:ACEL) Issues Quarterly Earnings Results

Accel Entertainment (NYSE:ACEL) released its earnings results on Tuesday. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04), FiscalAI reports. The company had revenue of $368.13 million during the quarter, compared to the consensus estimate of $356.66 million. Accel Entertainment had a return on equity of 25.70% and a net margin of 3.79%.

Accel Entertainment Stock Performance

ACEL stock traded up $0.10 during midday trading on Tuesday, reaching $12.13. The company had a trading volume of 281,869 shares, compared to its average volume of 351,000. Accel Entertainment has a fifty-two week low of $9.55 and a fifty-two week high of $14.00. The firm has a market capitalization of $987.42 million, a PE ratio of 20.22 and a beta of 1.02. The company has a quick ratio of 2.64, a current ratio of 2.71 and a debt-to-equity ratio of 2.02. The stock has a 50 day moving average price of $12.48 and a 200 day moving average price of $11.80.

Insider Buying and Selling

In other news, insider Derek Harmer sold 20,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction of $260,000.00. Following the completion of the transaction, the insider owned 187,827 shares of the company’s stock, valued at approximately $2,441,751. The trade was a 9.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, COO Mark T. Phelan sold 25,000 shares of the company’s stock in a transaction dated 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 $3,139,032. This represents a 9.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 104,277 shares of company stock valued at $1,259,917. 14.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accel Entertainment

Large investors have recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in shares of Accel Entertainment by 456.2% during the second quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock valued at $66,000 after buying an additional 4,608 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Accel Entertainment by 195.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock valued at $84,000 after acquiring an additional 4,700 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Accel Entertainment in the 1st quarter valued at approximately $110,000. EntryPoint Capital LLC bought a new stake in Accel Entertainment during the 4th quarter valued at $118,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Accel Entertainment during the 4th quarter valued at $131,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

Analysts Set New Price Targets

ACEL has been the subject of a number of research reports. Wall Street Zen downgraded Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Finally, Zacks Research lowered Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Accel Entertainment Company Profile

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.