Accel Entertainment (NYSE:ACEL) Sees Strong Trading Volume – Here’s Why

Accel Entertainment, Inc. (NYSE:ACEL) saw an uptick in trading volume on Tuesday . 1,020,075 shares were traded during trading, an increase of 163% from the previous session’s volume of 387,980 shares.The stock last traded at $11.15 and had previously closed at $11.24.

Analyst Upgrades and Downgrades

ACEL has been the topic of several research reports. Truist Financial initiated coverage on Accel Entertainment in a research report on Tuesday, December 16th. They issued a “hold” rating and a $13.00 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Accel Entertainment in a report on Monday, December 29th. JMP Securities set a $13.00 target price on Accel Entertainment in a report on Friday, December 5th. Wall Street Zen downgraded shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Citigroup began coverage on shares of Accel Entertainment in a research note on Friday, December 5th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Accel Entertainment Trading Down 1.1%

The company has a 50 day moving average price of $10.99 and a two-hundred day moving average price of $11.10. The firm has a market capitalization of $924.88 million, a price-to-earnings ratio of 22.23 and a beta of 1.08. The company has a debt-to-equity ratio of 2.12, a quick ratio of 2.50 and a current ratio of 2.57.

Insider Buying and Selling

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

Institutional Trading of Accel Entertainment

Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Accel Entertainment during the 3rd quarter valued at approximately $49,000. CWM LLC raised its position in Accel Entertainment by 151.7% in the second quarter. CWM LLC now owns 4,992 shares of the company’s stock valued at $59,000 after purchasing an additional 3,009 shares during the period. Osaic Holdings Inc. lifted its stake 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 purchasing an additional 4,608 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake 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 valued at $84,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Accel Entertainment during the 1st quarter worth $110,000. Hedge funds and other institutional investors own 55.39% of the company’s stock.

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.