Accel Entertainment, Inc. $ACEL Shares Sold by Globeflex Capital L P

Globeflex Capital L P cut its holdings in Accel Entertainment, Inc. (NYSE:ACEL) by 17.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 362,992 shares of the company’s stock after selling 78,393 shares during the period. Globeflex Capital L P owned about 0.44% of Accel Entertainment worth $4,142,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Osaic Holdings Inc. boosted its holdings in shares of Accel Entertainment by 456.2% in the 2nd 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 period. Tower Research Capital LLC TRC boosted its stake in Accel Entertainment by 195.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock valued at $84,000 after purchasing an additional 4,700 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Accel Entertainment in the 1st quarter worth about $110,000. Engineers Gate Manager LP grew its position in Accel Entertainment by 8.7% in the 2nd quarter. Engineers Gate Manager LP now owns 11,960 shares of the company’s stock worth $141,000 after purchasing an additional 956 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in Accel Entertainment in the 3rd quarter worth about $151,000. 55.39% of the stock is owned by institutional investors and hedge funds.

Accel Entertainment Stock Performance

Shares of ACEL stock opened at $12.08 on Friday. The business has a 50 day simple moving average of $11.68 and a 200 day simple moving average of $11.30. The firm has a market capitalization of $982.78 million, a price-to-earnings ratio of 20.13 and a beta of 1.01. Accel Entertainment, Inc. has a 12-month low of $9.55 and a 12-month high of $13.31. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.71 and a quick ratio of 2.64.

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, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $351.56 million during the quarter, compared to analysts’ expectations of $342.88 million. Accel Entertainment had a net margin of 3.79% and a return on equity of 25.70%. On average, equities research analysts anticipate that Accel Entertainment, Inc. will post 0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ACEL. Citizens Jmp upped their target price on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 4th. Weiss Ratings lowered Accel Entertainment from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Zacks Research lowered Accel Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Wall Street Zen lowered Accel Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Truist Financial increased their price objective on Accel Entertainment from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, March 4th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Accel Entertainment has an average rating of “Moderate Buy” and a consensus target price of $14.67.

Insider Activity at Accel Entertainment

In related news, Director Bruce D. Wardinski acquired 50,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $11.55 per share, for a total transaction of $577,500.00. Following the completion of the acquisition, the director directly owned 50,000 shares of the company’s stock, valued at approximately $577,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Derek Harmer sold 20,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $11.39, for a total transaction of $227,800.00. Following the completion of the transaction, the insider owned 179,963 shares of the company’s stock, valued at $2,049,778.57. This trade represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 837,572 shares of company stock valued at $9,547,778. Insiders own 14.47% of the company’s stock.

Accel Entertainment 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.