Invesco Ltd. Raises Stock Position in Accel Entertainment, Inc. $ACEL

Key Points

• Invesco Ltd. increased its stake in Accel Entertainment by 24.7% during the first quarter, owning 912,129 shares worth approximately $9 million.
• Accel Entertainment's stock price rose by 2.5%, opening at $11.5990, with a market capitalization of $977.68 million.
• Analysts have a positive outlook on Accel Entertainment, with a current average rating of "Buy" and a target price of $15.50 to $16.00.

Invesco Ltd. increased its stake in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 24.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 912,129 shares of the company's stock after buying an additional 180,868 shares during the period. Invesco Ltd. owned 1.07% of Accel Entertainment worth $9,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACEL. Millennium Management LLC purchased a new stake in shares of Accel Entertainment in the 4th quarter worth approximately $1,523,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Accel Entertainment in the 4th quarter worth approximately $1,228,000. Two Sigma Investments LP grew its stake in shares of Accel Entertainment by 164.3% in the 4th quarter. Two Sigma Investments LP now owns 160,094 shares of the company's stock worth $1,710,000 after buying an additional 99,532 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of Accel Entertainment in the 1st quarter worth approximately $899,000. Finally, Two Sigma Advisers LP grew its stake in shares of Accel Entertainment by 111.5% in the 4th quarter. Two Sigma Advisers LP now owns 149,500 shares of the company's stock worth $1,597,000 after buying an additional 78,800 shares during the last quarter. Hedge funds and other institutional investors own 55.39% of the company's stock.

Insider Buying and Selling

In related news, CAO Christen Kozlik sold 3,791 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gordon Rubenstein sold 29,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $11.24, for a total value of $325,960.00. Following the completion of the transaction, the director directly owned 14,117 shares in the company, valued at approximately $158,675.08. This represents a 67.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,674 shares of company stock valued at $1,633,408 in the last 90 days. 18.33% of the stock is owned by company insiders.

Accel Entertainment Stock Performance

Accel Entertainment stock traded up $0.02 during trading on Thursday, reaching $11.57. The company had a trading volume of 313,239 shares, compared to its average volume of 359,509. Accel Entertainment, Inc. has a 52 week low of $9.02 and a 52 week high of $13.27. The firm's 50-day simple moving average is $11.89 and its 200 day simple moving average is $11.30. The firm has a market capitalization of $974.90 million, a price-to-earnings ratio of 28.92 and a beta of 1.32. The company has a current ratio of 2.64, a quick ratio of 2.56 and a debt-to-equity ratio of 2.15.

Analysts Set New Price Targets

ACEL has been the topic of several recent research reports. Macquarie restated an "outperform" rating and issued a $16.00 price target on shares of Accel Entertainment in a research note on Tuesday, May 6th. Northland Securities increased their target price on Accel Entertainment to $15.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $15.50.

Accel Entertainment Profile

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.