AlphaQuest LLC Has $677,000 Stake in Accel Entertainment, Inc. $ACEL

Key Points

• AlphaQuest LLC increased its holdings in Accel Entertainment by 59.7% in the first quarter, owning 68,209 shares valued at $677,000.
• Other institutional investors, including Man Group plc and Northern Trust Corp, also significantly boosted their positions in Accel Entertainment during the 4th quarter.
• Accel Entertainment's stock is currently down 1.1% and analysts have set a consensus target price of $15.50 with some giving it a "buy" rating.

AlphaQuest LLC grew its position in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 59.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,209 shares of the company's stock after purchasing an additional 25,511 shares during the period. AlphaQuest LLC owned about 0.08% of Accel Entertainment worth $677,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Accel Entertainment by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,506,347 shares of the company's stock valued at $34,783,000 after acquiring an additional 40,524 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Accel Entertainment by 24.7% during the 1st quarter. Invesco Ltd. now owns 912,129 shares of the company's stock valued at $9,048,000 after acquiring an additional 180,868 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Accel Entertainment by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 690,173 shares of the company's stock valued at $7,370,000 after acquiring an additional 23,745 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Accel Entertainment by 11.1% during the 4th quarter. Northern Trust Corp now owns 488,463 shares of the company's stock valued at $5,217,000 after acquiring an additional 48,639 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Accel Entertainment by 2.0% during the 4th quarter. Deutsche Bank AG now owns 422,383 shares of the company's stock valued at $4,511,000 after purchasing an additional 8,433 shares during the period. 55.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 value of $277,500.00. Following the completion of the sale, the director directly owned 260,635 shares of the company's stock, valued at approximately $2,893,048.50. This trade represents a 8.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christen Kozlik sold 3,791 shares of Accel Entertainment stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $11.50, for a total value of $43,596.50. Following the completion of the sale, the chief accounting officer directly owned 4,534 shares of the company's stock, valued at $52,141. This trade represents a 45.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,674 shares of company stock valued at $1,633,408. Company insiders own 18.33% of the company's stock.

Accel Entertainment Price Performance

NYSE:ACEL traded up $0.02 during trading hours on Thursday, reaching $11.57. The company had a trading volume of 313,239 shares, compared to its average volume of 438,726. The stock has a 50-day moving average of $11.90 and a two-hundred day moving average of $11.30. Accel Entertainment, Inc. has a one year low of $9.02 and a one year high of $13.27. The firm has a market capitalization of $974.90 million, a PE ratio of 28.92 and a beta of 1.32. The company has a quick ratio of 2.56, a current ratio of 2.64 and a debt-to-equity ratio of 2.15.

Analyst Upgrades and Downgrades

ACEL has been the subject of several recent analyst reports. Macquarie restated an "outperform" rating and set a $16.00 target price 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 investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $15.50.

Accel Entertainment Company 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.