Accel Entertainment (NYSE:ACEL) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• Accel Entertainment reported quarterly EPS of $0.15, missing analysts’ $0.19 consensus estimate by $0.04, while revenue of $368.13 million exceeded expectations of $356.66 million.
• Shares rose 0.8% to $12.13 after the results. Analysts maintain a “Moderate Buy” consensus with an average price target of $14.67.
• Insiders sold 104,277 shares worth approximately $1.26 million over the past three months, while institutional investors and hedge funds own 55.39% of the company.

Accel Entertainment (NYSE:ACEL - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04), FiscalAI reports. The company had revenue of $368.13 million for the quarter, compared to analyst estimates of $356.66 million. Accel Entertainment had a return on equity of 25.70% and a net margin of 3.79%.

Accel Entertainment Trading Up 0.8%

Shares of NYSE:ACEL traded up $0.10 during trading on Tuesday, reaching $12.13. 281,869 shares of the stock were exchanged, compared to its average volume of 351,000. The firm's 50-day moving average price is $12.48 and its 200 day moving average price is $11.80. The firm has a market cap of $987.42 million, a price-to-earnings ratio of 20.22 and a beta of 1.02. Accel Entertainment has a 12-month low of $9.55 and a 12-month high of $14.00. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.64 and a current ratio of 2.71.

Insider Buying and Selling at Accel Entertainment

In other Accel Entertainment news, insider Derek Harmer sold 20,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction of $260,000.00. Following the completion of the sale, the insider directly owned 187,827 shares in the company, valued at $2,441,751. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gordon Rubenstein sold 46,346 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $11.34, for a total transaction of $525,563.64. Following the completion of the sale, the director directly owned 4,946 shares of the company's stock, valued at $56,087.64. The trade was a 90.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 104,277 shares of company stock valued at $1,259,917. 14.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP grew its stake in Accel Entertainment by 8.7% during the 2nd quarter. Engineers Gate Manager LP now owns 11,960 shares of the company's stock valued at $141,000 after purchasing an additional 956 shares in the last quarter. Cerity Partners LLC raised its position in shares of Accel Entertainment by 3.9% in the 2nd quarter. Cerity Partners LLC now owns 30,763 shares of the company's stock valued at $362,000 after purchasing an additional 1,145 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Accel Entertainment by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,083 shares of the company's stock valued at $248,000 after buying an additional 1,694 shares during the last quarter. Zacks Investment Management boosted its stake in shares of Accel Entertainment by 9.4% during the 3rd quarter. Zacks Investment Management now owns 23,647 shares of the company's stock valued at $262,000 after buying an additional 2,035 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Accel Entertainment by 7.8% during the fourth quarter. MetLife Investment Management LLC now owns 29,035 shares of the company's stock worth $331,000 after buying an additional 2,110 shares in the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ACEL shares. Wall Street Zen cut Accel Entertainment from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Zacks Research cut Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 22nd. Finally, Weiss Ratings raised shares of Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Accel Entertainment presently has a consensus rating of "Moderate Buy" and an average price target of $14.67.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.