Accel Entertainment, Inc. (NYSE:ACEL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Accel Entertainment, Inc. (NYSE:ACEL) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $14.25.

ACEL has been the subject of several analyst reports. Truist Financial assumed coverage on Accel Entertainment in a report on Tuesday, December 16th. They issued a “hold” rating and a $13.00 price objective for the company. Macquarie Infrastructure reissued an “outperform” rating and issued a $16.00 price objective on shares of Accel Entertainment in a research note on Wednesday, November 5th. Wall Street Zen downgraded Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Citigroup started coverage on Accel Entertainment in a research report on Friday, December 5th. They issued an “outperform” rating on the stock. Finally, Citizens Jmp set a $13.00 price target on shares of Accel Entertainment in a report on Friday, December 5th.

Insider Buying and Selling at Accel Entertainment

In related news, insider Derek Harmer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $11.11, for a total value of $111,100.00. Following the sale, the insider directly owned 204,917 shares in the company, valued at $2,276,627.87. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David W. Ruttenberg sold 25,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.19, for a total transaction of $279,750.00. Following the completion of the sale, the director directly owned 223,135 shares in the company, valued at approximately $2,496,880.65. This represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 90,000 shares of company stock valued at $1,013,100 in the last ninety days. Insiders own 18.33% of the company’s stock.

Institutional Investors Weigh In On Accel Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP boosted its holdings in shares of Accel Entertainment by 8.7% during the 2nd quarter. Engineers Gate Manager LP now owns 11,960 shares of the company’s stock worth $141,000 after buying an additional 956 shares in the last quarter. AdvisorShares Investments LLC increased its holdings in Accel Entertainment by 3.3% during the 2nd quarter. AdvisorShares Investments LLC now owns 30,942 shares of the company’s stock worth $364,000 after purchasing an additional 1,000 shares in the last quarter. Cerity Partners LLC raised its position in Accel Entertainment by 3.9% in the 2nd quarter. Cerity Partners LLC now owns 30,763 shares of the company’s stock valued at $362,000 after buying an additional 1,145 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Accel Entertainment by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,083 shares of the company’s stock valued at $248,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Zacks Investment Management lifted its position in shares of Accel Entertainment by 9.4% during the 3rd quarter. Zacks Investment Management now owns 23,647 shares of the company’s stock worth $262,000 after buying an additional 2,035 shares in the last quarter. Institutional investors own 55.39% of the company’s stock.

Accel Entertainment Trading Up 0.8%

Shares of Accel Entertainment stock opened at $10.92 on Wednesday. The firm has a 50-day moving average of $11.30 and a 200-day moving average of $10.95. Accel Entertainment has a 52-week low of $9.02 and a 52-week high of $13.27. The stock has a market cap of $908.49 million, a PE ratio of 21.84 and a beta of 1.07. The company has a debt-to-equity ratio of 2.12, a quick ratio of 2.50 and a current ratio of 2.57.

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.