Accel Entertainment (NYSE:ACEL) Announces Earnings Results, Beats Expectations By $0.04 EPS

Accel Entertainment (NYSE:ACEL) posted its earnings results on Tuesday. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04, FiscalAI reports. Accel Entertainment had a net margin of 3.34% and a return on equity of 27.51%. The firm had revenue of $341.45 million for the quarter, compared to the consensus estimate of $335.66 million.

Accel Entertainment Price Performance

Accel Entertainment stock traded down $0.04 on Tuesday, reaching $11.04. The company’s stock had a trading volume of 403,254 shares, compared to its average volume of 374,449. The business’s fifty day moving average price is $11.31 and its 200 day moving average price is $10.93. The company has a debt-to-equity ratio of 2.12, a quick ratio of 2.50 and a current ratio of 2.57. The company has a market cap of $918.64 million, a price-to-earnings ratio of 22.08 and a beta of 1.05. Accel Entertainment has a twelve month low of $9.02 and a twelve month high of $13.27.

Insider Transactions at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.19, for a total transaction of $279,750.00. Following the transaction, the director directly owned 223,135 shares in the company, valued at approximately $2,496,880.65. This represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derek Harmer sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.11, for a total transaction of $111,100.00. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,000 shares of company stock valued at $1,289,100 over the last ninety days. 18.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Accel Entertainment in the third quarter valued at approximately $4,368,000. Millennium Management LLC grew its position in Accel Entertainment by 252.5% in the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after purchasing an additional 359,948 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Accel Entertainment by 177.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 548,952 shares of the company’s stock valued at $6,264,000 after purchasing an additional 351,012 shares in the last quarter. Visualize Group LP acquired a new stake in Accel Entertainment in the 3rd quarter valued at $2,280,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Accel Entertainment by 60.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 391,350 shares of the company’s stock worth $4,606,000 after buying an additional 147,653 shares in the last quarter. 55.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACEL. Citigroup began coverage on Accel Entertainment in a research note on Friday, December 5th. They issued an “outperform” rating on the stock. Citizens Jmp set a $13.00 target price on Accel Entertainment in a research note on Friday, December 5th. Macquarie Infrastructure reiterated an “outperform” rating and issued a $16.00 price objective on shares of Accel Entertainment in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Accel Entertainment in a research report on Monday, December 29th. Finally, Truist Financial began coverage on Accel Entertainment in a research report on Tuesday, December 16th. They issued a “hold” rating and a $13.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

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.