Arrowstreet Capital Limited Partnership Increases Stock Position in Accel Entertainment, Inc. $ACEL

Key Points

• Arrowstreet Capital increased its Accel Entertainment stake by 63.6% in the first quarter, acquiring 421,047 additional shares for a total holding of 1.08 million shares valued at $11.8 million. Institutional investors collectively own 55.39% of the company.
• Analyst sentiment remains favorable, with four Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and a $14.67 price target. Recent ratings were mixed, including an upgrade from Weiss Ratings and downgrades from Zacks Research and Wall Street Zen.
• Accel reported quarterly EPS of $0.17, beating estimates by $0.01, while revenue of $351.56 million exceeded expectations. Shares opened at $12.01, and insiders have sold 104,277 shares worth approximately $1.26 million over the past 90 days.

Arrowstreet Capital Limited Partnership lifted its holdings in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 63.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,082,891 shares of the company's stock after buying an additional 421,047 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.33% of Accel Entertainment worth $11,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caxton Associates LLP acquired a new position in Accel Entertainment during the first quarter worth about $208,000. Orvieto Partners L.P. lifted its position in shares of Accel Entertainment by 74.8% during the 1st quarter. Orvieto Partners L.P. now owns 133,838 shares of the company's stock valued at $1,460,000 after acquiring an additional 57,292 shares during the period. Sei Investments Co. lifted its position in shares of Accel Entertainment by 66.3% during the 1st quarter. Sei Investments Co. now owns 68,586 shares of the company's stock valued at $748,000 after acquiring an additional 27,349 shares during the period. First Trust Advisors LP boosted its stake in shares of Accel Entertainment by 43.0% during the 1st quarter. First Trust Advisors LP now owns 203,057 shares of the company's stock worth $2,215,000 after acquiring an additional 61,098 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of Accel Entertainment by 249.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company's stock worth $1,521,000 after acquiring an additional 99,521 shares in the last quarter. Institutional investors and hedge funds own 55.39% of the company's stock.

Analyst Ratings Changes

ACEL has been the subject of several research analyst reports. Weiss Ratings raised Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. Zacks Research downgraded Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 22nd. Finally, Wall Street Zen lowered Accel Entertainment from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.67.

Insiders Place Their Bets

In related news, Director Gordon Rubenstein sold 12,931 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $11.55, for a total value of $149,353.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark T. Phelan sold 25,000 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $13.00, for a total value of $325,000.00. Following the sale, the chief operating officer owned 241,464 shares of the company's stock, valued at approximately $3,139,032. The trade was a 9.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 104,277 shares of company stock worth $1,259,917 over the last ninety days. Company insiders own 14.47% of the company's stock.

Accel Entertainment Trading Up 0.4%

Shares of Accel Entertainment stock opened at $12.01 on Friday. Accel Entertainment, Inc. has a 1 year low of $9.55 and a 1 year high of $14.00. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.71 and a quick ratio of 2.64. The business has a 50 day moving average price of $12.47 and a 200 day moving average price of $11.80. The company has a market capitalization of $977.49 million, a P/E ratio of 20.02 and a beta of 1.00.

Accel Entertainment (NYSE:ACEL - Get Free Report) last announced its earnings results 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 return on equity of 25.70% and a net margin of 3.79%.The firm had revenue of $351.56 million for the quarter, compared to analysts' expectations of $342.88 million. Sell-side analysts anticipate that Accel Entertainment, Inc. will post 0.72 EPS for the current fiscal year.

Accel Entertainment Company 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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