Accel Entertainment, Inc. (NYSE:ACEL) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 76.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 have also recently made changes to their positions in the business. Orvieto Partners L.P. acquired a new position in Accel Entertainment during the 4th quarter worth $3,951,000. JPMorgan Chase & Co. boosted its stake in shares of Accel Entertainment by 70.0% in the 4th quarter. JPMorgan Chase & Co. now owns 483,401 shares of the company's stock valued at $5,163,000 after buying an additional 199,092 shares during the period. Renaissance Technologies LLC grew its position in shares of Accel Entertainment by 27.0% during the fourth quarter. Renaissance Technologies LLC now owns 823,917 shares of the company's stock worth $8,799,000 after buying an additional 175,112 shares in the last quarter. Financial Counselors Inc. purchased a new stake in shares of Accel Entertainment during the fourth quarter worth approximately $1,866,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Accel Entertainment by 300.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 219,256 shares of the company's stock worth $2,342,000 after buying an additional 164,560 shares during the period. Institutional investors and hedge funds own 55.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Macquarie reiterated 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 raised their price objective on shares of Accel Entertainment to $15.00 and gave the company a "buy" rating in a report on Thursday, May 1st.

Insider Activity

In related news, insider Derek Harmer sold 5,000 shares of Accel Entertainment stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $10.00, for a total transaction of $50,000.00. Following the sale, the insider now directly owns 216,575 shares in the company, valued at $2,165,750. This trade represents a 2.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christen Kozlik sold 3,791 shares of the business's stock in a transaction dated 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 now directly owns 4,534 shares of the company's stock, valued at $52,141. The trade was a 45.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,674 shares of company stock worth $1,327,858. 19.17% of the stock is currently owned by insiders.

Accel Entertainment Stock Up 0.3%

NYSE ACEL traded up $0.04 during trading on Thursday, reaching $11.66. 57,280 shares of the company's stock were exchanged, compared to its average volume of 285,176. The stock has a market cap of $986.91 million, a P/E ratio of 22.86 and a beta of 1.23. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.63 and a current ratio of 2.71. The company has a 50 day moving average price of $11.13 and a two-hundred day moving average price of $11.04. Accel Entertainment, Inc. has a 1 year low of $9.02 and a 1 year high of $12.96.

About Accel Entertainment

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.