Accel Entertainment (NYSE:ACEL) Issues Quarterly Earnings Results

Accel Entertainment (NYSE:ACEL) posted its quarterly earnings results on Tuesday. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01, FiscalAI reports. Accel Entertainment had a net margin of 3.87% and a return on equity of 27.49%. The business had revenue of $351.56 million for the quarter, compared to the consensus estimate of $342.88 million.

Accel Entertainment Stock Up 2.1%

NYSE:ACEL traded up $0.26 during trading hours on Tuesday, reaching $12.47. The company’s stock had a trading volume of 252,952 shares, compared to its average volume of 379,299. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 20.78 and a beta of 1.04. Accel Entertainment has a one year low of $9.55 and a one year high of $13.31. The business’s 50-day moving average is $11.48 and its 200-day moving average is $11.06. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.61 and a quick ratio of 2.55.

Insider Buying and Selling

In related news, Director David W. Ruttenberg sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $11.53, for a total value of $115,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Derek Harmer sold 20,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $11.39, for a total transaction of $227,800.00. Following the sale, the insider owned 179,963 shares of the company’s stock, valued at $2,049,778.57. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 864,247 shares of company stock worth $9,865,047. Corporate insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Accel Entertainment

A number of hedge funds have recently bought and sold shares of ACEL. AQR Capital Management LLC boosted its holdings in Accel Entertainment by 13.1% during the first quarter. AQR Capital Management LLC now owns 160,415 shares of the company’s stock valued at $1,591,000 after acquiring an additional 18,643 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Accel Entertainment during the first quarter valued at about $110,000. Millennium Management LLC boosted its holdings in Accel Entertainment by 252.5% during the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after acquiring an additional 359,948 shares during the period. Jane Street Group LLC boosted its holdings in Accel Entertainment by 157.5% during the first quarter. Jane Street Group LLC now owns 37,108 shares of the company’s stock valued at $368,000 after acquiring an additional 22,695 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Accel Entertainment by 10.2% during the second quarter. Rhumbline Advisers now owns 81,054 shares of the company’s stock valued at $954,000 after acquiring an additional 7,501 shares during the period. 55.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ACEL. Zacks Research raised shares of Accel Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Wall Street Zen downgraded shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Truist Financial upped their price target on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, March 4th. Citizens Jmp upped their price target on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.67.

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.