Accel Entertainment (NYSE:ACEL) Stock Price Down 2.8% – Here’s What Happened

Shares of Accel Entertainment, Inc. (NYSE:ACEL) fell 2.8% during trading on Friday . The company traded as low as $11.76 and last traded at $11.76. Approximately 24,978 shares traded hands during trading, a decline of 93% from the average session volume of 345,504 shares. The stock had previously closed at $12.10.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ACEL shares. Weiss Ratings upgraded shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Truist Financial set a $14.00 target price on shares of Accel Entertainment in a research note on Wednesday. Citizens Jmp raised their target price on Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. Citigroup reissued a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Finally, National Bank Financial set a $15.00 price objective on Accel Entertainment in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Accel Entertainment presently has an average rating of “Moderate Buy” and an average price target of $14.80.

Accel Entertainment Stock Down 1.7%

The business’s 50 day simple moving average is $12.47 and its 200-day simple moving average is $11.88. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.40 and a current ratio of 2.47. The company has a market cap of $966.20 million, a price-to-earnings ratio of 17.76 and a beta of 1.02.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%.The company had revenue of $368.13 million during the quarter, compared to analyst estimates of $356.66 million. Sell-side analysts expect that Accel Entertainment, Inc. will post 0.7 earnings per share for the current year.

Insider Transactions at Accel Entertainment

In other news, COO Mark T. Phelan sold 25,000 shares of the firm’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 completion of the sale, the chief operating officer directly owned 241,464 shares of the company’s stock, valued at $3,139,032. This trade represents a 9.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Harmer sold 20,000 shares of Accel Entertainment stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $13.00, for a total value of $260,000.00. Following the sale, the insider owned 187,827 shares of the company’s stock, valued at approximately $2,441,751. This represents a 9.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 14.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.