David W. Ruttenberg Sells 25,000 Shares of Accel Entertainment, Inc. (NYSE:ACEL) Stock

Key Points

• David W. Ruttenberg, a director at Accel Entertainment, sold 25,000 shares of the company's stock for a total of $277,500, reducing his ownership by 8.75% to 260,635 shares.
• Accel Entertainment's stock is currently trading at $11.22, with a fifty-two week high of $13.27 and a market capitalization of approximately $945.31 million.
• Recent analyst reports have set target prices for Accel Entertainment at $15.00 by Northland Securities and $16.00 by Macquarie, both maintaining a “buy” or "outperform" rating.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $11.10, for a total value of $277,500.00. Following the completion of the sale, the director directly owned 260,635 shares in the company, valued at approximately $2,893,048.50. This represents a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Accel Entertainment Price Performance

Shares of Accel Entertainment stock traded up $0.04 during mid-day trading on Monday, reaching $11.22. 270,174 shares of the stock traded hands, compared to its average volume of 439,308. The business has a 50-day moving average of $11.90 and a 200 day moving average of $11.30. Accel Entertainment, Inc. has a fifty-two week low of $9.02 and a fifty-two week high of $13.27. The stock has a market capitalization of $945.31 million, a PE ratio of 14.15 and a beta of 1.32. The company has a quick ratio of 2.56, a current ratio of 2.64 and a debt-to-equity ratio of 2.15.

Analyst Upgrades and Downgrades

ACEL has been the topic of several recent analyst reports. Macquarie reissued an "outperform" rating and set a $16.00 target price on shares of Accel Entertainment in a research note on Tuesday, May 6th. Northland Securities lifted their target price on Accel Entertainment to $15.00 and gave the company a "buy" rating in a research report on Thursday, May 1st.

Institutional Trading of Accel Entertainment

Hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP boosted its holdings in Accel Entertainment by 8.7% in 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. Hohimer Wealth Management LLC boosted its position in Accel Entertainment by 5.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 18,699 shares of the company's stock worth $185,000 after purchasing an additional 961 shares during the period. AdvisorShares Investments LLC boosted its position in Accel Entertainment by 3.3% in the 2nd quarter. AdvisorShares Investments LLC now owns 30,942 shares of the company's stock valued at $364,000 after buying an additional 1,000 shares during the last quarter. Cerity Partners LLC boosted its position in 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 buying an additional 1,145 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Accel Entertainment by 4.7% in the 1st quarter. MetLife Investment Management LLC now owns 31,104 shares of the company's stock valued at $309,000 after purchasing an additional 1,389 shares in the last quarter. 55.39% of the stock is currently owned by institutional investors and hedge funds.

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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