108,746 Shares in Accel Entertainment, Inc. $ACEL Acquired by 1060 Capital LLC

Key Points

• 1060 Capital LLC acquired 108,746 shares of Accel Entertainment, Inc., representing a new investment valued at approximately $1,079,000, making it the firm's 10th largest holding.
• Several other institutional investors also increased their stakes in Accel Entertainment, with 55.39% of the company now owned by such investors.
• Accel Entertainment's stock was recently downgraded from a "strong-buy" to a "buy" rating, with a consensus rating of "buy" and an average price target of $15.50.

1060 Capital LLC purchased a new position in shares of Accel Entertainment, Inc. (NYSE:ACEL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 108,746 shares of the company's stock, valued at approximately $1,079,000. Accel Entertainment comprises 2.4% of 1060 Capital LLC's investment portfolio, making the stock its 10th largest holding. 1060 Capital LLC owned 0.13% of Accel Entertainment at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of Accel Entertainment in the 1st quarter valued at about $35,000. Trifecta Capital Advisors LLC increased its holdings in Accel Entertainment by 437.9% during the 1st quarter. Trifecta Capital Advisors LLC now owns 9,144 shares of the company's stock worth $91,000 after purchasing an additional 7,444 shares during the last quarter. XTX Topco Ltd purchased a new stake in Accel Entertainment during the 1st quarter worth approximately $101,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Accel Entertainment in the 1st quarter worth approximately $110,000. Finally, Quarry LP grew its position in shares of Accel Entertainment by 136.3% in the 1st quarter. Quarry LP now owns 11,784 shares of the company's stock worth $117,000 after acquiring an additional 6,797 shares in the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Accel Entertainment from a "strong-buy" rating to a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $15.50.

Insider Buying and Selling at Accel Entertainment

In related news, Director David W. Ruttenberg sold 25,000 shares of the company's 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 transaction, the director directly owned 285,635 shares of the company's stock, valued at approximately $3,227,675.50. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek Harmer sold 5,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $11.50, for a total value of $57,500.00. Following the completion of the transaction, the insider owned 202,880 shares in the company, valued at $2,333,120. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,000 shares of company stock worth $976,550 over the last three months. 18.33% of the stock is owned by insiders.

Accel Entertainment Stock Down 1.8%

Shares of Accel Entertainment stock opened at $11.27 on Tuesday. The firm has a market capitalization of $949.53 million, a PE ratio of 28.16 and a beta of 1.12. Accel Entertainment, Inc. has a 12-month low of $9.02 and a 12-month high of $13.27. The company has a quick ratio of 2.56, a current ratio of 2.64 and a debt-to-equity ratio of 2.15. The stock's fifty day moving average is $11.87 and its 200-day moving average is $11.25.

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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