Accel Entertainment (NYSE:ACEL) Sees Large Volume Increase After Analyst Upgrade

Accel Entertainment, Inc. (NYSE:ACEL) shares saw unusually-strong trading volume on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $13.00 to $16.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Approximately 178,250 shares changed hands during trading, a decline of 30% from the previous session’s volume of 254,633 shares.The stock last traded at $10.23 and had previously closed at $11.61.

Insiders Place Their Bets

In related news, Director David W. Ruttenberg sold 14,292 shares of Accel Entertainment stock in a transaction on Monday, April 15th. The stock was sold at an average price of $11.01, for a total value of $157,354.92. Following the completion of the transaction, the director now directly owns 446,914 shares in the company, valued at $4,920,523.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Accel Entertainment news, Director David W. Ruttenberg sold 14,292 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $11.01, for a total transaction of $157,354.92. Following the sale, the director now owns 446,914 shares in the company, valued at approximately $4,920,523.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karl Mr. Peterson sold 10,000 shares of Accel Entertainment stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $11.67, for a total value of $116,700.00. Following the completion of the transaction, the director now owns 2,468,938 shares of the company’s stock, valued at approximately $28,812,506.46. The disclosure for this sale can be found here. Insiders have sold a total of 135,999 shares of company stock worth $1,520,439 in the last ninety days. 17.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of Accel Entertainment by 974.6% in the 3rd quarter. Invesco Ltd. now owns 974,356 shares of the company’s stock valued at $10,669,000 after purchasing an additional 883,688 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Accel Entertainment by 7.3% during the third quarter. Vanguard Group Inc. now owns 3,101,745 shares of the company’s stock worth $33,964,000 after purchasing an additional 210,862 shares in the last quarter. Barclays PLC increased its holdings in Accel Entertainment by 4.0% in the third quarter. Barclays PLC now owns 68,762 shares of the company’s stock valued at $753,000 after buying an additional 2,642 shares during the last quarter. Trexquant Investment LP raised its stake in Accel Entertainment by 125.3% in the third quarter. Trexquant Investment LP now owns 56,724 shares of the company’s stock valued at $621,000 after buying an additional 31,546 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Accel Entertainment by 75.8% in the third quarter. Hsbc Holdings PLC now owns 30,884 shares of the company’s stock valued at $339,000 after buying an additional 13,316 shares in the last quarter. Institutional investors and hedge funds own 55.39% of the company’s stock.

Accel Entertainment Price Performance

The stock has a fifty day simple moving average of $11.42 and a 200-day simple moving average of $10.65. The company has a market capitalization of $830.04 million, a PE ratio of 18.69 and a beta of 1.42. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 2.59.

Accel Entertainment (NYSE:ACEL) last issued its earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. The business had revenue of $297.07 million for the quarter, compared to analyst estimates of $286.32 million. Accel Entertainment had a return on equity of 39.62% and a net margin of 3.90%. Equities analysts anticipate that Accel Entertainment, Inc. will post 0.75 earnings per share for the current year.

About Accel Entertainment

Accel Entertainment, Inc, together with its subsidiaries, operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of gaming terminals; redemption devices that disburse winnings and contain automated teller machine (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.