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

Accel Entertainment, Inc. (NYSE:ACEL) insider Derek Harmer sold 20,000 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $11.39, for a total transaction of $227,800.00. Following the transaction, the insider owned 179,963 shares in the company, valued at $2,049,778.57. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, March 10th, Derek Harmer sold 2,092 shares of Accel Entertainment stock. The shares were sold at an average price of $11.45, for a total transaction of $23,953.40.
• On Tuesday, December 23rd, Derek Harmer sold 5,000 shares of Accel Entertainment stock. The shares were sold at an average price of $11.50, for a total value of $57,500.00.

Accel Entertainment Stock Performance

Shares of ACEL traded down $0.13 during mid-day trading on Monday, hitting $11.16. The stock had a trading volume of 310,275 shares, compared to its average volume of 498,045. Accel Entertainment, Inc. has a fifty-two week low of $9.02 and a fifty-two week high of $13.31. The company has a quick ratio of 2.55, a current ratio of 2.61 and a debt-to-equity ratio of 2.11. The company has a market cap of $910.32 million, a PE ratio of 18.60 and a beta of 1.05. The company’s fifty day simple moving average is $11.34 and its two-hundred day simple moving average is $10.95.

Accel Entertainment (NYSE:ACEL) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $341.45 million during the quarter, compared to the consensus estimate of $335.66 million. Accel Entertainment had a net margin of 3.87% and a return on equity of 27.49%. On average, equities analysts expect that Accel Entertainment, Inc. will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hill Path Capital LP bought a new stake in shares of Accel Entertainment in the 2nd quarter worth $32,828,000. Geode Capital Management LLC boosted its stake in Accel Entertainment by 2.1% during the second quarter. Geode Capital Management LLC now owns 1,266,697 shares of the company’s stock valued at $14,912,000 after buying an additional 26,419 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Accel Entertainment during the second quarter worth about $302,000. Hillsdale Investment Management Inc. raised its position in Accel Entertainment by 29.7% in the second quarter. Hillsdale Investment Management Inc. now owns 486,300 shares of the company’s stock worth $5,724,000 after acquiring an additional 111,500 shares in the last quarter. Finally, XTX Topco Ltd raised its position in Accel Entertainment by 205.3% in the second quarter. XTX Topco Ltd now owns 31,016 shares of the company’s stock worth $365,000 after acquiring an additional 20,858 shares in the last quarter. Institutional investors and hedge funds own 55.39% of the company’s stock.

Analyst Upgrades and Downgrades

ACEL has been the subject of a number of analyst reports. Truist Financial boosted their price objective on Accel Entertainment from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, March 4th. Citizens Jmp raised their target price on Accel Entertainment from $13.00 to $14.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 4th. Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 5th. Finally, Citigroup began coverage on shares of Accel Entertainment in a research report on Friday, December 5th. They set an “outperform” rating for the company. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.75.

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.