Accel Entertainment (NYSE:ACEL) Cut to "Hold" at Zacks Research

Key Points

• Accel Entertainment has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting changing analyst sentiment towards the stock.
• Despite the downgrade, Wall Street Zen upgraded Accel's rating from "buy" to "strong-buy," indicating mixed opinions among analysts.
• Accel Entertainment shares are currently trading at $10.90, down 2.4%, with a consensus target price of $15.50 based on MarketBeat's analysis.

Zacks Research cut shares of Accel Entertainment (NYSE:ACEL - Free Report) from a strong-buy rating to a hold rating in a report released on Monday,Zacks.com reports.

Separately, Wall Street Zen upgraded Accel Entertainment from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.50.

Accel Entertainment Stock Performance

Shares of NYSE ACEL traded down $0.09 during midday trading on Monday, hitting $11.05. 506,394 shares of the stock traded hands, compared to its average volume of 295,758. The firm has a 50-day moving average of $11.68 and a two-hundred day moving average of $11.24. The firm has a market capitalization of $931.40 million, a P/E ratio of 27.63 and a beta of 1.12. The company has a debt-to-equity ratio of 2.15, a quick ratio of 2.56 and a current ratio of 2.64. Accel Entertainment has a one year low of $9.02 and a one year high of $13.27.

Insider Transactions at Accel Entertainment

In related news, insider Derek Harmer sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $11.50, for a total value of $57,500.00. Following the sale, the insider directly owned 202,880 shares of the company's stock, valued at $2,333,120. This represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $11.11, for a total transaction of $277,750.00. Following the completion of the sale, the director directly owned 248,135 shares in the company, valued at $2,756,779.85. This trade represents a 9.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,000 shares of company stock worth $915,000 over the last three months. 18.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Accel Entertainment

Institutional investors have recently bought and sold shares of the company. Man Group plc boosted its stake in Accel Entertainment by 242.1% in the fourth quarter. Man Group plc now owns 93,180 shares of the company's stock valued at $995,000 after acquiring an additional 65,939 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Accel Entertainment during the fourth quarter worth $1,228,000. Northern Trust Corp lifted its stake in shares of Accel Entertainment by 11.1% during the fourth quarter. Northern Trust Corp now owns 488,463 shares of the company's stock worth $5,217,000 after buying an additional 48,639 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Accel Entertainment during the fourth quarter worth $369,000. Finally, Millennium Management LLC acquired a new stake in shares of Accel Entertainment during the fourth quarter worth $1,523,000. 55.39% of the stock is currently owned by institutional investors and hedge funds.

About Accel Entertainment

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.