Accel Entertainment (NYSE:ACEL) Insider Derek Harmer Sells 20,000 Shares of Stock

Accel Entertainment, Inc. (NYSE:ACEL) insider Derek Harmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the completion of the transaction, the insider directly owned 187,827 shares of the company’s stock, valued at $2,441,751. This represents a 9.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accel Entertainment Trading Down 1.3%

Shares of NYSE:ACEL opened at $13.02 on Tuesday. The firm has a fifty day moving average of $11.94 and a two-hundred day moving average of $11.45. The firm has a market capitalization of $1.06 billion, a P/E ratio of 21.71 and a beta of 1.01. Accel Entertainment, Inc. has a 12-month low of $9.55 and a 12-month high of $14.00. The company has a quick ratio of 2.64, a current ratio of 2.71 and a debt-to-equity ratio of 2.02.

Accel Entertainment (NYSE:ACEL) last issued its earnings results on Tuesday, May 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $351.56 million during the quarter, compared to analyst estimates of $342.88 million. Accel Entertainment had a net margin of 3.79% and a return on equity of 25.70%. On average, equities analysts expect that Accel Entertainment, Inc. will post 0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACEL. Zacks Research lowered shares of Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Wall Street Zen lowered shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Citizens Jmp lifted 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 note on Wednesday, March 4th. Truist Financial lifted their target price on shares of Accel Entertainment from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings lowered shares of Accel Entertainment from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACEL. Arrowstreet Capital Limited Partnership raised its holdings in shares of Accel Entertainment by 63.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock valued at $11,814,000 after purchasing an additional 421,047 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Accel Entertainment during the 3rd quarter valued at $4,368,000. Millennium Management LLC raised its holdings in shares of Accel Entertainment by 252.5% during the 1st 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. raised its holdings in shares of Accel Entertainment by 177.3% during the 4th 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. Finally, Visualize Group LP bought a new position in shares of Accel Entertainment during the 3rd quarter valued at $2,280,000. 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.