Accel Entertainment, Inc. $ACEL Shares Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd boosted its Accel Entertainment stake by 249.3% in the first quarter, buying an additional 99,521 shares and lifting its position to 139,441 shares valued at about $1.52 million.
• Insider activity was mixed: director Bruce D. Wardinski bought 50,000 shares in May, while insider Derek Harmer sold 20,000 shares in June; insiders have sold 104,277 shares over the last 90 days overall.
• Accel Entertainment recently reported quarterly EPS of $0.17, beating estimates, and revenue of $351.56 million; analysts currently view the stock as a Moderate Buy with an average price target of $14.67.

Y Intercept Hong Kong Ltd raised its stake in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 249.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,441 shares of the company's stock after purchasing an additional 99,521 shares during the period. Y Intercept Hong Kong Ltd owned 0.17% of Accel Entertainment worth $1,521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS Group AG boosted its holdings in shares of Accel Entertainment by 71.6% in the 4th quarter. UBS Group AG now owns 200,736 shares of the company's stock valued at $2,290,000 after buying an additional 83,725 shares in the last quarter. Hsbc Holdings PLC raised its stake in Accel Entertainment by 105.6% during the 4th quarter. Hsbc Holdings PLC now owns 118,610 shares of the company's stock worth $1,352,000 after acquiring an additional 60,917 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Accel Entertainment during the 4th quarter worth $131,000. EntryPoint Capital LLC purchased a new stake in Accel Entertainment in the fourth quarter valued at $118,000. Finally, Brevan Howard Capital Management LP purchased a new stake in Accel Entertainment in the third quarter valued at $151,000. Institutional investors and hedge funds own 55.39% of the company's stock.

Insider Buying and Selling

In other Accel Entertainment news, insider Derek Harmer sold 20,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the completion of the sale, the insider directly owned 187,827 shares of the company's stock, valued at $2,441,751. This represents a 9.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce D. Wardinski acquired 50,000 shares of the firm's stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $11.55 per share, with a total value of $577,500.00. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at $577,500. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 104,277 shares of company stock worth $1,259,917. Insiders own 14.47% of the company's stock.

Accel Entertainment Stock Performance

NYSE:ACEL traded down $0.01 during trading hours on Friday, reaching $12.49. 321,892 shares of the company's stock were exchanged, compared to its average volume of 320,774. Accel Entertainment, Inc. has a 1-year low of $9.55 and a 1-year high of $14.00. The company has a quick ratio of 2.64, a current ratio of 2.71 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 20.83 and a beta of 1.00. The company has a 50-day moving average of $12.32 and a 200 day moving average of $11.72.

Accel Entertainment (NYSE:ACEL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. Accel Entertainment had a net margin of 3.79% and a return on equity of 25.70%. The company had revenue of $351.56 million for the quarter, compared to analyst estimates of $342.88 million. Research analysts anticipate that Accel Entertainment, Inc. will post 0.7 EPS for the current year.

Analysts Set New Price Targets

ACEL has been the topic of several research reports. Zacks Research lowered Accel Entertainment from a "strong-buy" rating to a "hold" rating in a report on Friday, May 22nd. Weiss Ratings raised Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 26th. Finally, Wall Street Zen cut Accel Entertainment from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.67.

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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