Accel Entertainment (NYSE:ACEL) Cut to Buy at Wall Street Zen

Key Points

• Accel Entertainment was downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, with Zacks Research also changing their rating from "strong-buy" to "hold".
• The company's stock has a current average target price of $15.50 and a consensus rating of "Moderate Buy" based on multiple analysts' reviews.
• Insider trading activity included significant share sales by executives, with insiders owning 18.33% of the company's stock.

Wall Street Zen downgraded shares of Accel Entertainment (NYSE:ACEL - Free Report) from a strong-buy rating to a buy rating in a research report released on Sunday.

Separately, Zacks Research lowered shares of Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.50.

Accel Entertainment Trading Up 0.8%

ACEL stock traded up $0.09 during mid-day trading on Friday, hitting $11.22. 66,627 shares of the company were exchanged, compared to its average volume of 353,735. 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 firm has a market capitalization of $945.31 million, a P/E ratio of 28.06 and a beta of 1.12. The business has a fifty day simple moving average of $11.66 and a 200-day simple moving average of $11.26. Accel Entertainment has a 12-month low of $9.02 and a 12-month high of $13.27.

Insider Activity at Accel Entertainment

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were 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 approximately $2,756,779.85. This represents a 9.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 75,000 shares of company stock valued at $857,500. 18.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACEL. Ameriprise Financial Inc. lifted its holdings in Accel Entertainment by 7.9% in the 4th quarter. Ameriprise Financial Inc. now owns 123,076 shares of the company's stock valued at $1,314,000 after purchasing an additional 9,061 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Accel Entertainment in the 4th quarter valued at about $369,000. Millennium Management LLC purchased a new position in Accel Entertainment in the 4th quarter valued at about $1,523,000. Man Group plc lifted its holdings in Accel Entertainment by 242.1% in the 4th quarter. Man Group plc now owns 93,180 shares of the company's stock valued at $995,000 after purchasing an additional 65,939 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in Accel Entertainment in the 4th quarter valued at about $622,000. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

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.