Accel Entertainment (NYSE:ACEL) Reaches New 1-Year High - What's Next?

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) reached a new 52-week high on Monday . The stock traded as high as $12.99 and last traded at $12.90, with a volume of 133347 shares. The stock had previously closed at $12.74.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACEL. Northland Securities upped their target price on Accel Entertainment to $15.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Macquarie restated an "outperform" rating and set a $16.00 target price on shares of Accel Entertainment in a research note on Tuesday, May 6th.

Accel Entertainment Stock Down 2.8%

The firm has a 50 day simple moving average of $11.86 and a two-hundred day simple moving average of $11.27. The company has a quick ratio of 2.35, a current ratio of 2.42 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $1.06 billion, a P/E ratio of 25.50 and a beta of 1.23.

Insider Transactions at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $11.73, for a total value of $293,250.00. Following the completion of the transaction, the director directly owned 298,135 shares in the company, valued at approximately $3,497,123.55. This represents a 7.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gordon Rubenstein sold 29,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $11.24, for a total value of $325,960.00. Following the completion of the transaction, the director owned 14,117 shares of the company's stock, valued at $158,675.08. The trade was a 67.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,674 shares of company stock valued at $1,649,158 over the last quarter. 18.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Versant Capital Management Inc bought a new position in shares of Accel Entertainment in the 1st quarter valued at $35,000. Covestor Ltd lifted its stake in shares of Accel Entertainment by 32.4% in the 4th quarter. Covestor Ltd now owns 4,294 shares of the company's stock valued at $46,000 after acquiring an additional 1,051 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Accel Entertainment by 11,304.3% in the 4th quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company's stock valued at $56,000 after acquiring an additional 5,200 shares during the last quarter. CWM LLC lifted its stake in shares of Accel Entertainment by 151.7% in the 2nd quarter. CWM LLC now owns 4,992 shares of the company's stock valued at $59,000 after acquiring an additional 3,009 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Accel Entertainment by 483.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,422 shares of the company's stock worth $79,000 after purchasing an additional 6,151 shares during the last quarter. 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.