Accel Entertainment (NYSE:ACEL) Releases Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Accel Entertainment reported a quarterly EPS of $0.22, surpassing consensus estimates of $0.21.
• The stock saw a 0.5% increase, reaching $12.38, with a market capitalization of $1.05 billion.
• Insiders sold 143,674 shares of stock worth approximately $1.65 million in the last 90 days, indicating notable insider activity.

Accel Entertainment (NYSE:ACEL - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.01, Zacks reports. Accel Entertainment had a net margin of 2.75% and a return on equity of 28.46%. The company had revenue of $335.91 million for the quarter, compared to the consensus estimate of $328.47 million.

Accel Entertainment Stock Down 0.5%

ACEL traded down $0.06 during trading on Friday, reaching $11.04. 542,849 shares of the stock were exchanged, compared to its average volume of 401,627. The stock has a market cap of $934.43 million, a P/E ratio of 27.60 and a beta of 1.32. Accel Entertainment has a twelve month low of $9.02 and a twelve month high of $13.27. The stock's 50 day moving average price is $11.90 and its two-hundred day moving average price is $11.30. The company has a debt-to-equity ratio of 2.15, a quick ratio of 2.35 and a current ratio of 2.64.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ACEL shares. Northland Securities lifted their price objective on shares of Accel Entertainment to $15.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Macquarie reiterated an "outperform" rating and issued a $16.00 price objective on shares of Accel Entertainment in a report on Tuesday, May 6th.

Insider Activity

In related news, Director Gordon Rubenstein sold 29,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $11.24, for a total transaction of $325,960.00. Following the transaction, the director directly owned 14,117 shares in the company, valued at approximately $158,675.08. The trade was a 67.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Derek Harmer sold 5,000 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $11.50, for a total transaction of $57,500.00. Following the transaction, the insider owned 202,880 shares in the company, valued at approximately $2,333,120. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,674 shares of company stock valued at $1,649,158 in the last ninety days. Corporate insiders own 18.33% of the company's stock.

Institutional Trading of Accel Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. bought a new stake in shares of Accel Entertainment during the 1st quarter worth about $110,000. Jane Street Group LLC boosted its holdings 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 worth $368,000 after buying an additional 22,695 shares during the period. AQR Capital Management LLC boosted its position in shares of Accel Entertainment by 13.1% in 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. Finally, Millennium Management LLC boosted its position in shares of Accel Entertainment by 252.5% in 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. Institutional investors 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.