Accel Entertainment (NYSE:ACEL) Director Sells $277,750.00 in Stock

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 W. Ruttenberg sold 25,000 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $11.11, for a total value of $277,750.00. Following the completion of the transaction, the director directly owned 248,135 shares of the company's stock, valued at $2,756,779.85. The trade was a 9.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Accel Entertainment Price Performance

NYSE:ACEL traded down $0.09 during trading hours on Friday, reaching $11.05. 506,394 shares of the company were exchanged, compared to its average volume of 295,758. The company has a current ratio of 2.64, a quick ratio of 2.56 and a debt-to-equity ratio of 2.15. The firm has a market cap of $931.40 million, a PE ratio of 27.63 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 stock's 50-day moving average is $11.68 and its 200-day moving average is $11.24.

Institutional Trading of Accel Entertainment

A number of hedge funds have recently bought and sold shares of ACEL. Hill Path Capital LP purchased a new position in Accel Entertainment during the second quarter worth approximately $32,828,000. Millennium Management LLC increased its stake in shares of Accel Entertainment by 252.5% in the 1st quarter. Millennium Management LLC now owns 502,521 shares of the company's stock worth $4,985,000 after acquiring an additional 359,948 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Accel Entertainment by 24.7% during the 1st quarter. Invesco Ltd. now owns 912,129 shares of the company's stock worth $9,048,000 after acquiring an additional 180,868 shares during the period. Midwest Trust Co acquired a new position in shares of Accel Entertainment during the 2nd quarter valued at about $2,057,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Accel Entertainment by 60.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 391,350 shares of the company's stock valued at $4,606,000 after purchasing an additional 147,653 shares during the period. Institutional investors and hedge funds own 55.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ACEL shares. Zacks Research lowered shares of Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Wall Street Zen raised Accel Entertainment from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $15.50.

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.