Citizens Jmp Begins Coverage on Accel Entertainment (NYSE:ACEL)

Investment analysts at Citizens Jmp initiated coverage on shares of Accel Entertainment (NYSE:ACEL) in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage set a “market outperform” rating and a $13.00 price target on the stock. Citizens Jmp’s price objective points to a potential upside of 24.58% from the company’s current price.

ACEL has been the subject of a number of other research reports. JMP Securities set a $13.00 price target on shares of Accel Entertainment in a research note on Friday. Zacks Research lowered shares of Accel Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Wall Street Zen downgraded shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Citigroup started coverage on shares of Accel Entertainment in a research note on Friday. They issued an “outperform” rating on the stock. Finally, Macquarie reiterated an “outperform” rating and issued a $16.00 price target on shares of Accel Entertainment in a research note on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Accel Entertainment Stock Performance

Shares of ACEL opened at $10.44 on Friday. The firm has a market cap of $868.30 million, a price-to-earnings ratio of 20.87 and a beta of 1.07. The company has a quick ratio of 2.50, a current ratio of 2.57 and a debt-to-equity ratio of 2.12. The business’s 50 day moving average is $10.35 and its two-hundred day moving average is $11.17. Accel Entertainment has a 52-week low of $9.02 and a 52-week high of $13.27.

Insider Activity

In other news, Director David W. Ruttenberg sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $11.11, for a total value of $277,750.00. Following the transaction, the director directly owned 248,135 shares in the company, valued at approximately $2,756,779.85. This trade represents a 9.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 18.33% of the company’s stock.

Institutional Investors Weigh In On Accel Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of ACEL. State of Alaska Department of Revenue bought a new position in Accel Entertainment in the third quarter worth about $49,000. CWM LLC grew its holdings in shares of Accel Entertainment by 151.7% during the second quarter. CWM LLC now owns 4,992 shares of the company’s stock valued at $59,000 after purchasing an additional 3,009 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Accel Entertainment by 456.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock worth $66,000 after purchasing an additional 4,608 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Accel Entertainment by 195.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock worth $84,000 after purchasing an additional 4,700 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Accel Entertainment in the 1st quarter worth approximately $101,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

Accel Entertainment Company Profile

Accel Entertainment, Inc, together with its subsidiaries, operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of gaming terminals; redemption devices that disburse winnings and contain automated teller machine (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.