Insider Selling: Accel Entertainment (NYSE:ACEL) Director Sells $716,186.00 in Stock

Accel Entertainment, Inc. (NYSE:ACEL) Director Gordon Rubenstein sold 60,952 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $11.75, for a total transaction of $716,186.00. Following the transaction, the director directly owned 542,165 shares in the company, valued at $6,370,438.75. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, March 11th, Gordon Rubenstein sold 157,349 shares of Accel Entertainment stock. The stock was sold at an average price of $11.38, for a total transaction of $1,790,631.62.
• On Wednesday, March 11th, Gordon Rubenstein sold 3,212 shares of Accel Entertainment stock. The stock was sold at an average price of $11.38, for a total value of $36,552.56.
• 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 Monday, March 9th, Gordon Rubenstein sold 228,262 shares of Accel Entertainment stock. The stock was sold at an average price of $11.37, for a total transaction of $2,595,338.94.

Accel Entertainment Trading Down 0.4%

NYSE:ACEL opened at $11.34 on Friday. The stock has a market capitalization of $943.19 million, a PE ratio of 18.89 and a beta of 1.05. The firm’s 50 day moving average is $11.34 and its 200 day moving average is $10.96. The company has a current ratio of 2.61, a quick ratio of 2.55 and a debt-to-equity ratio of 2.11. Accel Entertainment, Inc. has a 12 month low of $9.02 and a 12 month high of $13.31.

Accel Entertainment (NYSE:ACEL) last issued 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 analysts’ expectations of $335.66 million. Accel Entertainment had a return on equity of 27.49% and a net margin of 3.87%. Sell-side analysts expect that Accel Entertainment, Inc. will post 0.8 earnings per share for the current year.

Institutional Trading of Accel Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP grew its stake in shares of Accel Entertainment by 8.7% in the second quarter. Engineers Gate Manager LP now owns 11,960 shares of the company’s stock worth $141,000 after acquiring an additional 956 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Accel Entertainment by 3.9% in the second quarter. Cerity Partners LLC now owns 30,763 shares of the company’s stock worth $362,000 after acquiring an additional 1,145 shares during the period. The Manufacturers Life Insurance Company raised its stake in Accel Entertainment by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,083 shares of the company’s stock valued at $248,000 after buying an additional 1,694 shares during the last quarter. Zacks Investment Management increased its position in Accel Entertainment by 9.4% during the third quarter. Zacks Investment Management now owns 23,647 shares of the company’s stock valued at $262,000 after acquiring an additional 2,035 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Accel Entertainment by 7.8% during the 4th quarter. MetLife Investment Management LLC now owns 29,035 shares of the company’s stock valued at $331,000 after purchasing an additional 2,110 shares during the last quarter. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Accel Entertainment Company Profile

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.