Free Trial

1060 Capital LLC Acquires New Position in Accel Entertainment, Inc. $ACEL

Accel Entertainment logo with Consumer Discretionary background

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.
  • Five stocks to consider instead of Accel Entertainment.

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

Several other institutional investors have also recently made changes to their positions in the business. Hohimer Wealth Management LLC raised its stake 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 acquiring an additional 961 shares during the period. MetLife Investment Management LLC grew its holdings in Accel Entertainment by 4.7% during the 1st quarter. MetLife Investment Management LLC now owns 31,104 shares of the company's stock valued at $309,000 after buying an additional 1,389 shares in the last quarter. Swiss National Bank grew its holdings in Accel Entertainment by 1.7% during the 1st quarter. Swiss National Bank now owns 99,800 shares of the company's stock valued at $990,000 after buying an additional 1,700 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in Accel Entertainment by 21.0% during the 4th quarter. EP Wealth Advisors LLC now owns 15,186 shares of the company's stock valued at $162,000 after buying an additional 2,640 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Accel Entertainment by 18.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,634 shares of the company's stock valued at $221,000 after buying an additional 3,237 shares in the last quarter. Institutional investors own 55.39% of the company's stock.

Accel Entertainment Trading Down 2.4%

Shares of NYSE:ACEL traded down $0.28 on Friday, hitting $11.13. 196,634 shares of the company's stock were exchanged, compared to its average volume of 328,574. Accel Entertainment, Inc. has a 12 month low of $9.02 and a 12 month high of $13.27. The stock has a market capitalization of $937.77 million, a price-to-earnings ratio of 27.81 and a beta of 1.12. The business's 50 day simple moving average is $11.79 and its two-hundred day simple moving average is $11.23. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.64 and a quick ratio of 2.56.

Analyst Upgrades and Downgrades

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

Read Our Latest Report on ACEL

Insider Buying and Selling at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of Accel Entertainment stock in a transaction on Friday, August 15th. The stock was sold at an average price of $11.10, for a total transaction 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 trade represents a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek Harmer sold 5,000 shares of Accel Entertainment stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $11.50, for a total value of $57,500.00. Following the sale, the insider owned 202,880 shares of the company's stock, valued at approximately $2,333,120. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,000 shares of company stock valued at $976,550. Corporate insiders own 18.33% of the company's stock.

Accel Entertainment Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Accel Entertainment (NYSE:ACEL)

Should You Invest $1,000 in Accel Entertainment Right Now?

Before you consider Accel Entertainment, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Accel Entertainment wasn't on the list.

While Accel Entertainment currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2025 Cover

Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.

Get This Free Report
Like this article? Share it with a colleague.