Accel Entertainment (NYSE:ACEL) Announces Quarterly Earnings Results

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) released its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01, Zacks reports. Accel Entertainment had a return on equity of 29.41% and a net margin of 3.39%.

Accel Entertainment Stock Up 0.5%

Accel Entertainment stock traded up $0.06 during midday trading on Tuesday, reaching $12.38. The stock had a trading volume of 352,123 shares, compared to its average volume of 347,933. The firm's fifty day simple moving average is $11.90 and its 200-day simple moving average is $11.30. Accel Entertainment has a 1-year low of $9.02 and a 1-year high of $13.27. The stock has a market capitalization of $1.05 billion, a P/E ratio of 25.27 and a beta of 1.32. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.35 and a current ratio of 2.42.

Insider Transactions at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of Accel Entertainment stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $12.09, for a total transaction of $302,250.00. Following the completion of the transaction, the director directly owned 273,135 shares in the company, valued at approximately $3,302,202.15. The trade was a 8.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Christen Kozlik sold 3,791 shares of Accel Entertainment stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $11.50, for a total value of $43,596.50. Following the transaction, the chief accounting officer owned 4,534 shares of the company's stock, valued at $52,141. This represents a 45.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,674 shares of company stock worth $1,649,158 in the last 90 days. 18.33% of the stock is owned by corporate insiders.

Institutional Trading of Accel Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new position in Accel Entertainment in the 1st quarter valued at $110,000. Jane Street Group LLC raised its holdings in Accel Entertainment by 157.5% in 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 in the last quarter. AQR Capital Management LLC raised its holdings in Accel Entertainment by 13.1% in 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 in the last quarter. Finally, Millennium Management LLC raised its holdings in Accel Entertainment by 252.5% in 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 in the last quarter. 55.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Northland Securities increased their target price on Accel Entertainment to $15.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Macquarie reiterated an "outperform" rating and issued a $16.00 price target on shares of Accel Entertainment in a report on Tuesday, May 6th.

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.

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