Hsbc Holdings PLC Increases Stake in Accel Entertainment, Inc. $ACEL

Hsbc Holdings PLC grew its holdings in Accel Entertainment, Inc. (NYSE:ACEL) by 105.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,610 shares of the company’s stock after purchasing an additional 60,917 shares during the quarter. Hsbc Holdings PLC owned approximately 0.14% of Accel Entertainment worth $1,352,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its position 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 worth $66,000 after buying an additional 4,608 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Accel Entertainment by 195.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock worth $84,000 after purchasing an additional 4,700 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Accel Entertainment during the 1st quarter valued at about $110,000. EntryPoint Capital LLC acquired a new position in Accel Entertainment during the 4th quarter valued at about $118,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Accel Entertainment in the fourth quarter valued at about $131,000. Institutional investors own 55.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ACEL. Weiss Ratings upgraded Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Zacks Research cut shares of Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Citizens Jmp boosted 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. Wall Street Zen lowered shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Truist Financial raised their price target on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $14.67.

Accel Entertainment Stock Performance

Shares of NYSE ACEL opened at $12.72 on Thursday. The company’s fifty day moving average price is $12.27 and its 200 day moving average price is $11.66. Accel Entertainment, Inc. has a 1 year low of $9.55 and a 1 year high of $14.00. The company has a market capitalization of $1.04 billion, a PE ratio of 21.20 and a beta of 1.00. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.64 and a current ratio of 2.71.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company 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, research analysts predict that Accel Entertainment, Inc. will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other Accel Entertainment news, insider Derek Harmer sold 20,000 shares of the 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 $260,000.00. Following the transaction, the insider owned 187,827 shares in the company, valued at approximately $2,441,751. This represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gordon Rubenstein sold 46,346 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $11.34, for a total value of $525,563.64. Following the completion of the sale, the director directly owned 4,946 shares in the company, valued at approximately $56,087.64. The trade was a 90.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 104,277 shares of company stock worth $1,259,917 in the last 90 days. 14.47% of the stock is currently owned by company insiders.

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.