Accel Entertainment (NYSE:ACEL) Sets New 12-Month High - Here's Why

Key Points

• Accel Entertainment (NYSE:ACEL) shares hit a new 52-week high of $12.99, closing at $12.90 with a trading volume of 133,347 shares.
• Analysts have issued positive ratings for Accel Entertainment, with Macquarie setting a price target of $16.00 and Northland Securities raising it to $15.00.
• Insiders have sold a total of 143,674 shares worth approximately $1.6 million in the last quarter, signifying a notable decrease in their holdings.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $12.99 and last traded at $12.90, with a volume of 133347 shares traded. The stock had previously closed at $12.74.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ACEL shares. Macquarie restated an "outperform" rating and set a $16.00 price objective on shares of Accel Entertainment in a research note on Tuesday, May 6th. Northland Securities raised their target price on shares of Accel Entertainment to $15.00 and gave the stock a "buy" rating in a report on Thursday, May 1st.

Accel Entertainment Trading Up 0.7%

The firm has a market capitalization of $1.09 billion, a PE ratio of 26.18 and a beta of 1.23. The firm's fifty day moving average is $11.73 and its two-hundred day moving average is $11.21. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.42 and a quick ratio of 2.35.

Insider Buying and Selling at Accel Entertainment

In related news, Director David W. Ruttenberg sold 25,000 shares of Accel Entertainment stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $11.73, for a total transaction of $293,250.00. Following the completion of the transaction, the director directly owned 298,135 shares of the company's stock, valued at $3,497,123.55. This trade represents a 7.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christen Kozlik sold 3,791 shares of Accel Entertainment stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $11.50, for a total transaction of $43,596.50. Following the completion of the sale, the chief accounting officer owned 4,534 shares of the company's stock, valued at $52,141. This represents a 45.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,674 shares of company stock worth $1,649,158 in the last quarter. 18.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ACEL. Versant Capital Management Inc acquired a new stake in Accel Entertainment during the 1st quarter valued at approximately $35,000. Covestor Ltd boosted its holdings in Accel Entertainment by 32.4% during the fourth quarter. Covestor Ltd now owns 4,294 shares of the company's stock worth $46,000 after buying an additional 1,051 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Accel Entertainment by 11,304.3% during the fourth quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company's stock worth $56,000 after buying an additional 5,200 shares in the last quarter. CWM LLC raised its position in Accel Entertainment by 151.7% during the second quarter. CWM LLC now owns 4,992 shares of the company's stock worth $59,000 after acquiring an additional 3,009 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Accel Entertainment by 483.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,422 shares of the company's stock worth $79,000 after acquiring an additional 6,151 shares during the period. Hedge funds and other institutional investors own 55.39% of the company's stock.

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.

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