Accel Entertainment (NYSE:ACEL) Director David Ruttenberg Sells 25,000 Shares

Key Points

• Accel Entertainment Director David Ruttenberg sold 25,000 shares of the company's stock at an average price of $11.11, reducing his position by 9.15%.
• The company received a rating upgrade from "buy" to "strong-buy" by Wall Street Zen, with a consensus target price of $15.50.
• Institutional investors now own 55.39% of Accel Entertainment, with notable increases in stakes from Vanguard Group and Millennium Management.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) Director David Ruttenberg sold 25,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $11.11, for a total value of $277,750.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Accel Entertainment Stock Performance

Shares of ACEL stock traded down $0.27 during trading on Tuesday, reaching $10.90. 231,696 shares of the company's stock were exchanged, compared to its average volume of 323,697. The company has a quick ratio of 2.56, a current ratio of 2.64 and a debt-to-equity ratio of 2.15. The stock has a market capitalization of $918.76 million, a PE ratio of 14.14 and a beta of 1.12. Accel Entertainment, Inc. has a twelve month low of $9.02 and a twelve month high of $13.27. The firm's fifty day moving average price is $11.78 and its 200-day moving average price is $11.23.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Accel Entertainment from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Accel Entertainment currently has an average rating of "Buy" and a consensus target price of $15.50.

Institutional Trading of Accel Entertainment

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Accel Entertainment by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,506,347 shares of the company's stock valued at $34,783,000 after buying an additional 40,524 shares during the period. Hill Path Capital LP acquired a new stake in shares of Accel Entertainment in the second quarter valued at about $32,828,000. Geode Capital Management LLC increased its stake in shares of Accel Entertainment by 2.1% in 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 during the period. Invesco Ltd. increased its stake in shares of Accel Entertainment by 24.7% in the first quarter. Invesco Ltd. now owns 912,129 shares of the company's stock valued at $9,048,000 after buying an additional 180,868 shares during the period. Finally, Millennium Management LLC increased its stake 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 buying an additional 359,948 shares during the period. 55.39% of the stock is currently owned by institutional investors.

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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