Accel Entertainment (NYSE:ACEL) Sees Large Volume Increase – Should You Buy?

Accel Entertainment, Inc. (NYSE:ACEL) saw strong trading volume on Tuesday . 1,020,075 shares traded hands during trading, an increase of 163% from the previous session’s volume of 387,980 shares.The stock last traded at $11.15 and had previously closed at $11.24.

Wall Street Analysts Forecast Growth

ACEL has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Accel Entertainment in a research note on Monday, December 29th. Truist Financial started coverage on shares of Accel Entertainment in a research report on Tuesday, December 16th. They set a “hold” rating and a $13.00 price objective on the stock. Wall Street Zen cut shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. JMP Securities set a $13.00 price target on shares of Accel Entertainment in a research report on Friday, December 5th. Finally, Citigroup initiated coverage on shares of Accel Entertainment in a research note on Friday, December 5th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Accel Entertainment Trading Down 1.1%

The company has a debt-to-equity ratio of 2.12, a quick ratio of 2.50 and a current ratio of 2.57. The stock has a fifty day simple moving average of $10.99 and a 200 day simple moving average of $11.10. The firm has a market cap of $924.88 million, a P/E ratio of 22.23 and a beta of 1.08.

Insiders Place Their Bets

In other Accel Entertainment news, insider Derek Harmer sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $11.11, for a total value of $111,100.00. Following the transaction, the insider directly owned 204,917 shares of the company’s stock, valued at approximately $2,276,627.87. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David W. Ruttenberg sold 25,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $11.19, for a total value of $279,750.00. Following the sale, the director owned 223,135 shares of the company’s stock, valued at approximately $2,496,880.65. This represents a 10.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 90,000 shares of company stock worth $1,013,100. Company insiders own 18.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hill Path Capital LP bought a new position in shares of Accel Entertainment in the second quarter worth approximately $32,828,000. CIBC Bancorp USA Inc. purchased a new stake in Accel Entertainment during the third quarter valued at approximately $4,368,000. Millennium Management LLC increased its position 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 last quarter. Visualize Group LP bought a new position in shares of Accel Entertainment during the third quarter valued at approximately $2,280,000. Finally, Midwest Trust Co purchased a new position in Accel Entertainment in the 2nd quarter worth about $2,057,000. 55.39% of the stock is currently owned by institutional investors.

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.