Accel Entertainment, Inc. (NYSE:ACEL) Short Interest Down 15.3% in April

Key Points

• Short interest fell 15.3% in April to 1,189,139 shares, bringing the days-to-cover to about 3.5 and leaving roughly 1.7% of the company's shares shorted.
• Accel beat quarterly estimates with $0.19 EPS (vs. $0.15 expected) and $341.45M revenue, the stock trades near $12.44, and analysts hold a consensus "Buy" rating with a $14.67 price target.
• Insiders have been net sellers—864,247 shares sold in the past 90 days (insiders own 14.47%)—while institutional ownership is 55.39%, with several funds notably increasing positions.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 1,189,139 shares, a decline of 15.3% from the March 31st total of 1,403,230 shares. Based on an average trading volume of 340,481 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.7% of the company's shares are short sold.

Accel Entertainment Trading Down 0.4%

Shares of NYSE ACEL traded down $0.06 during midday trading on Friday, reaching $12.44. The stock had a trading volume of 218,947 shares, compared to its average volume of 381,008. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 20.73 and a beta of 1.05. Accel Entertainment has a twelve month low of $9.55 and a twelve month high of $13.31. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.55 and a current ratio of 2.61. The company's 50 day moving average price is $11.48 and its 200 day moving average price is $11.05.

Accel Entertainment (NYSE:ACEL - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.04. Accel Entertainment had a net margin of 3.87% and a return on equity of 27.49%. The firm had revenue of $341.45 million for the quarter, compared to the consensus estimate of $335.66 million. As a group, sell-side analysts expect that Accel Entertainment will post 0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

ACEL has been the topic of a number of recent analyst reports. Citizens Jmp boosted 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 report on Wednesday, March 4th. Weiss Ratings upgraded shares of Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 9th. Wall Street Zen upgraded shares of Accel Entertainment from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 4th. Zacks Research upgraded shares of Accel Entertainment from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 20th. Finally, Truist Financial boosted their price target on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a "hold" rating in a research report on Wednesday, March 4th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $14.67.

Insiders Place Their Bets

In other Accel Entertainment news, insider Derek Harmer sold 20,000 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 179,963 shares of the company's stock, valued at $2,049,778.57. The trade was a 10.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gordon Rubenstein sold 172,943 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $11.37, for a total transaction of $1,966,361.91. Following the sale, the director directly owned 22,674 shares in the company, valued at $257,803.38. The trade was a 88.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 864,247 shares of company stock valued at $9,865,047 in the last ninety days. 14.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ACEL. AQR Capital Management LLC lifted its position in shares of Accel Entertainment by 13.1% during the 1st 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. acquired a new position in shares of Accel Entertainment during the 1st quarter valued at $110,000. Millennium Management LLC lifted its position 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 acquiring an additional 359,948 shares during the period. Jane Street Group LLC lifted its position in shares of Accel Entertainment by 157.5% during the 1st 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 lifted its position in shares of Accel Entertainment by 10.2% during the 2nd 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. Institutional investors and hedge funds own 55.39% of the company's stock.

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.

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