Accel Entertainment (NYSE:ACEL) Shares Up 0.7% - Time to Buy?

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report)'s stock price shot up 0.7% on Monday . The stock traded as high as $12.26 and last traded at $12.25. 184,965 shares were traded during trading, a decline of 36% from the average session volume of 288,633 shares. The stock had previously closed at $12.16.

Wall Street Analysts Forecast Growth

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

Accel Entertainment Stock Performance

The company has a 50 day moving average price of $11.55 and a 200-day moving average price of $11.08. The company has a current ratio of 2.42, a quick ratio of 2.35 and a debt-to-equity ratio of 2.11. The company has a market cap of $1.03 billion, a P/E ratio of 24.73 and a beta of 1.23.

Insider Buying and Selling

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $11.30, for a total transaction of $282,500.00. Following the completion of the transaction, the director directly owned 285,635 shares of the company's stock, valued at approximately $3,227,675.50. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christen Kozlik sold 3,791 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $11.50, for a total value of $43,596.50. Following the transaction, the chief accounting officer directly owned 4,534 shares of the company's stock, valued at approximately $52,141. This trade represents a 45.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,674 shares of company stock valued at $1,346,908. Company insiders own 18.33% of the company's stock.

Institutional Investors Weigh In On Accel Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Hohimer Wealth Management LLC increased its holdings in shares of Accel Entertainment by 5.4% in the first quarter. Hohimer Wealth Management LLC now owns 18,699 shares of the company's stock worth $185,000 after buying an additional 961 shares during the period. Covestor Ltd grew its stake in shares of Accel Entertainment by 32.4% in the fourth quarter. Covestor Ltd now owns 4,294 shares of the company's stock worth $46,000 after purchasing an additional 1,051 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Accel Entertainment by 4.7% in the first quarter. MetLife Investment Management LLC now owns 31,104 shares of the company's stock worth $309,000 after purchasing an additional 1,389 shares during the last quarter. Swiss National Bank grew its stake in shares of Accel Entertainment by 1.7% in the first quarter. Swiss National Bank now owns 99,800 shares of the company's stock worth $990,000 after purchasing an additional 1,700 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in shares of Accel Entertainment by 21.0% in the fourth quarter. EP Wealth Advisors LLC now owns 15,186 shares of the company's stock worth $162,000 after purchasing an additional 2,640 shares during the last quarter. 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.