Insider Selling: Accel Entertainment (NYSE:ACEL) Director Sells 228,262 Shares of Stock

Accel Entertainment, Inc. (NYSE:ACEL) Director Gordon Rubenstein sold 228,262 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $11.37, for a total transaction of $2,595,338.94. Following the sale, the director directly owned 313,903 shares of the company’s stock, valued at $3,569,077.11. This represents a 42.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Gordon Rubenstein also recently made the following trade(s):

• On Tuesday, March 10th, Gordon Rubenstein sold 180,671 shares of Accel Entertainment stock. The stock was sold at an average price of $11.48, for a total value of $2,074,103.08.
• On Friday, March 6th, Gordon Rubenstein sold 60,952 shares of Accel Entertainment stock. The shares were sold at an average price of $11.75, for a total transaction of $716,186.00.

Accel Entertainment Stock Performance

ACEL stock traded down $0.04 on Tuesday, reaching $11.44. 554,478 shares of the company were exchanged, compared to its average volume of 459,669. The firm has a market capitalization of $951.67 million, a PE ratio of 19.06 and a beta of 1.05. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.61 and a quick ratio of 2.55. Accel Entertainment, Inc. has a 12 month low of $9.02 and a 12 month high of $13.31. The stock’s fifty day moving average price is $11.34 and its 200 day moving average price is $10.96.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $341.45 million for the quarter, compared to analyst estimates of $335.66 million. Accel Entertainment had a net margin of 3.87% and a return on equity of 27.49%. On average, research analysts anticipate that Accel Entertainment, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Accel Entertainment

Several hedge funds have recently added to or reduced their stakes in ACEL. Hill Path Capital LP bought a new stake in shares of Accel Entertainment during the 2nd quarter valued at $32,828,000. Geode Capital Management LLC lifted its holdings in Accel Entertainment by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,266,697 shares of the company’s stock valued at $14,912,000 after buying an additional 26,419 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Accel Entertainment during the 2nd quarter valued at about $302,000. Midwest Trust Co purchased a new stake in shares of Accel Entertainment during the 2nd quarter worth $2,057,000. Finally, Hillsdale Investment Management Inc. boosted its holdings in Accel Entertainment by 29.7% in the second quarter. Hillsdale Investment Management Inc. now owns 486,300 shares of the company’s stock worth $5,724,000 after acquiring an additional 111,500 shares in the last quarter. Institutional investors own 55.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citizens Jmp raised their target price on shares of Accel Entertainment from $13.00 to $14.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 4th. Citigroup assumed coverage on Accel Entertainment in a research note on Friday, December 5th. They set an “outperform” rating on the stock. Truist Financial lifted their price objective on Accel Entertainment from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings upgraded Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.75.

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.