209,568 Shares in Accel Entertainment, Inc. $ACEL Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new stake in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 209,568 shares of the company's stock, valued at approximately $2,643,000. Bank of New York Mellon Corp owned 0.26% of Accel Entertainment at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ACEL. Osaic Holdings Inc. increased its holdings in shares of Accel Entertainment by 456.2% during the second quarter. Osaic Holdings Inc. now owns 5,618 shares of the company's stock valued at $66,000 after purchasing an additional 4,608 shares during the period. Tower Research Capital LLC TRC grew its position in Accel Entertainment by 195.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company's stock valued at $84,000 after buying an additional 4,700 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Accel Entertainment during the 4th quarter valued at about $118,000. Jacobs Levy Equity Management Inc. acquired a new position in Accel Entertainment during the 1st quarter valued at about $110,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Accel Entertainment in the 4th quarter worth approximately $131,000. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Derek Harmer sold 20,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $13.00, for a total value of $260,000.00. Following the completion of the sale, the insider directly owned 187,827 shares of the company's stock, valued at approximately $2,441,751. This represents a 9.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mark Phelan sold 25,000 shares of Accel Entertainment stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $13.00, for a total value of $325,000.00. Following the transaction, the chief operating officer directly owned 241,464 shares in the company, valued at approximately $3,139,032. This trade represents a 9.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 14.47% of the stock is currently owned by corporate insiders.

Accel Entertainment Trading Down 0.3%

Accel Entertainment stock opened at $11.84 on Tuesday. Accel Entertainment, Inc. has a 52 week low of $9.55 and a 52 week high of $14.00. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.40 and a current ratio of 2.47. The firm has a market capitalization of $961.29 million, a price-to-earnings ratio of 17.67 and a beta of 1.01. The company has a 50 day moving average price of $12.18 and a 200 day moving average price of $11.94.

Accel Entertainment (NYSE:ACEL - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.04). Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. The business had revenue of $368.13 million during the quarter, compared to analysts' expectations of $356.66 million. Research analysts forecast that Accel Entertainment, Inc. will post 0.69 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings upgraded Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 26th. Truist Financial set a $14.00 price target on shares of Accel Entertainment in a research report on Wednesday, August 19th. Wells Fargo & Company assumed coverage on shares of Accel Entertainment in a report on Friday, August 21st. They issued an "equal weight" rating and a $14.00 price target for the company. Zacks Research cut shares of Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 22nd. Finally, Citizens Jmp boosted their target price on shares of Accel Entertainment from $14.00 to $15.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.80.

Accel Entertainment Profile

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.

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