Bank of America Corp DE Lowers Position in Accel Entertainment, Inc. (NYSE:ACEL)

Bank of America Corp DE decreased its holdings in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 76.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,509 shares of the company's stock after selling 163,481 shares during the quarter. Bank of America Corp DE owned 0.06% of Accel Entertainment worth $529,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACEL. Covestor Ltd lifted its holdings in Accel Entertainment by 32.4% during the fourth quarter. Covestor Ltd now owns 4,294 shares of the company's stock valued at $46,000 after purchasing an additional 1,051 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Accel Entertainment by 18.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,634 shares of the company's stock worth $221,000 after purchasing an additional 3,237 shares during the last quarter. AdvisorShares Investments LLC increased its position in Accel Entertainment by 11.5% in the fourth quarter. AdvisorShares Investments LLC now owns 32,070 shares of the company's stock worth $343,000 after purchasing an additional 3,300 shares during the last quarter. Magnetar Financial LLC increased its position in Accel Entertainment by 25.7% during the fourth quarter. Magnetar Financial LLC now owns 18,385 shares of the company's stock valued at $196,000 after acquiring an additional 3,759 shares during the last quarter. Finally, Legato Capital Management LLC increased its position in Accel Entertainment by 33.4% during the fourth quarter. Legato Capital Management LLC now owns 16,842 shares of the company's stock valued at $180,000 after acquiring an additional 4,219 shares during the last quarter. Hedge funds and other institutional investors own 55.39% of the company's stock.

Insider Activity

In related news, CAO Christen Kozlik sold 3,791 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,534 shares in the company, valued at approximately $52,141. This represents a 45.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek Harmer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $10.00, for a total transaction of $50,000.00. Following the completion of the transaction, the insider now owns 216,575 shares in the company, valued at approximately $2,165,750. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,674 shares of company stock worth $1,327,858 over the last 90 days. 18.33% of the stock is currently owned by corporate insiders.

Accel Entertainment Stock Down 3.9%

Shares of ACEL stock traded down $0.46 during mid-day trading on Friday, hitting $11.25. 234,126 shares of the stock traded hands, compared to its average volume of 284,879. The stock has a market cap of $951.79 million, a P/E ratio of 22.05 and a beta of 1.23. The stock's fifty day moving average is $11.19 and its two-hundred day moving average is $11.03. Accel Entertainment, Inc. has a 52-week low of $9.02 and a 52-week high of $12.96. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.71 and a quick ratio of 2.63.

Analyst Upgrades and Downgrades

ACEL has been the topic of a number of analyst reports. Northland Securities boosted their price objective on shares of Accel Entertainment to $15.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Macquarie reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Accel Entertainment in a research note on Tuesday, May 6th.

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.