Hsbc Holdings PLC Purchases 60,917 Shares of Accel Entertainment, Inc. $ACEL

Hsbc Holdings PLC raised its position in Accel Entertainment, Inc. (NYSE:ACEL) by 105.6% during the 4th quarter, HoldingsChannel reports. The fund owned 118,610 shares of the company’s stock after buying an additional 60,917 shares during the quarter. Hsbc Holdings PLC’s holdings in Accel Entertainment were worth $1,352,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Osaic Holdings Inc. boosted its position in Accel Entertainment by 456.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock worth $66,000 after acquiring an additional 4,608 shares during 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 purchasing an additional 4,700 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Accel Entertainment during the first quarter worth $110,000. EntryPoint Capital LLC acquired a new position in Accel Entertainment during the fourth quarter worth $118,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Accel Entertainment in the fourth quarter valued at $131,000. Institutional investors own 55.39% of the company’s stock.

Insider Activity at Accel Entertainment

In other news, Director Gordon Rubenstein sold 46,346 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $11.34, for a total value of $525,563.64. Following the transaction, the director owned 4,946 shares of the company’s stock, valued at approximately $56,087.64. This represents a 90.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $260,000.00. Following the transaction, the insider owned 187,827 shares in the company, valued at approximately $2,441,751. This trade represents a 9.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 104,277 shares of company stock valued at $1,259,917 in the last 90 days. Insiders own 14.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. 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. Weiss Ratings raised Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Finally, Zacks Research cut 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, Accel Entertainment has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Accel Entertainment Price Performance

NYSE:ACEL opened at $12.49 on Monday. Accel Entertainment, Inc. has a one year low of $9.55 and a one year high of $14.00. The company has a market cap of $1.02 billion, a P/E ratio of 20.83 and a beta of 1.00. The firm’s fifty day moving average price is $12.32 and its two-hundred day moving average price is $11.73. 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 earnings results on Tuesday, May 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Accel Entertainment, Inc. will post 0.7 earnings per share for the current year.

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.