Derek Harmer Sells 13,162 Shares of Accel Entertainment (NYSE:ACEL) Stock

Accel Entertainment, Inc. (NYSE:ACEL) insider Derek Harmer sold 13,162 shares of Accel Entertainment stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $11.60, for a total value of $152,679.20. Following the transaction, the insider owned 157,767 shares of the company’s stock, valued at $1,830,097.20. The trade was a 7.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Derek Harmer also recently made the following trade(s):

• On Friday, September 11th, Derek Harmer sold 26,324 shares of Accel Entertainment stock. The stock was sold at an average price of $11.63, for a total value of $306,148.12.

Accel Entertainment Stock Down 0.3%

Shares of ACEL stock opened at $11.52 on Thursday. Accel Entertainment, Inc. has a twelve month low of $9.55 and a twelve month high of $14.00. The stock has a market cap of $935.07 million, a P/E ratio of 17.19 and a beta of 1.01. The stock has a 50 day moving average of $12.04 and a 200 day moving average of $11.96. The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 1.91.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $368.13 million during the quarter, compared to analysts’ expectations of $356.66 million. Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%. As a group, sell-side analysts expect that Accel Entertainment, Inc. will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its stake in Accel Entertainment by 63.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock worth $11,814,000 after buying an additional 421,047 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Accel Entertainment by 249.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company’s stock valued at $1,521,000 after acquiring an additional 99,521 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of Accel Entertainment in the second quarter valued at approximately $3,894,000. UBS Group AG boosted its stake in shares of Accel Entertainment by 71.6% in the fourth quarter. UBS Group AG now owns 200,736 shares of the company’s stock worth $2,290,000 after acquiring an additional 83,725 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Accel Entertainment in the second quarter worth approximately $2,643,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ACEL. National Bank Financial set a $15.00 target price on shares of Accel Entertainment in a research note on Wednesday, August 5th. Truist Financial set a $14.00 price target on Accel Entertainment in a research report on Wednesday, August 19th. Zacks Research lowered Accel Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Weiss Ratings upgraded Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Finally, Citigroup reiterated a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.80.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services through a network of electronic gaming terminals placed in licensed third-party establishments. The company’s host locations include bars, restaurants, taverns, convenience stores, truck stops and other businesses that offer gaming as an additional customer amenity.

Accel typically manages the full gaming operation for its partners, including the installation, maintenance and servicing of gaming terminals, game content, regulatory compliance, cash management and player-support functions.