Counterpoint Mutual Funds LLC Purchases Shares of 34,253 Accel Entertainment, Inc. $ACEL

Key Points

• Counterpoint Mutual Funds LLC acquired 34,253 shares of Accel Entertainment, valued at approximately $403,000, in the second quarter of the year.
• A significant increase in institutional investment was noted, with several hedge funds, such as Millennium Management LLC, expanding their stakes considerably during the first quarter.
• Analysts have recently downgraded Accel Entertainment from a "strong-buy" to a "hold" rating, indicating a shift in market sentiment about the stock's performance.

Counterpoint Mutual Funds LLC purchased a new stake in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 34,253 shares of the company's stock, valued at approximately $403,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its holdings in Accel Entertainment by 157.5% in the 1st quarter. Jane Street Group LLC now owns 37,108 shares of the company's stock valued at $368,000 after purchasing an additional 22,695 shares during the period. 1060 Capital LLC bought a new stake in shares of Accel Entertainment in the first quarter valued at approximately $1,079,000. PharVision Advisers LLC grew its position in Accel Entertainment by 109.8% during the first quarter. PharVision Advisers LLC now owns 37,037 shares of the company's stock worth $367,000 after buying an additional 19,385 shares in the last quarter. Millennium Management LLC increased its stake in Accel Entertainment by 252.5% during the 1st quarter. Millennium Management LLC now owns 502,521 shares of the company's stock worth $4,985,000 after acquiring an additional 359,948 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Accel Entertainment in the 1st quarter valued at $110,000. 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 the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $11.11, for a total value of $277,750.00. Following the sale, the director directly owned 248,135 shares of the company's stock, valued at approximately $2,756,779.85. This represents a 9.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 75,000 shares of company stock worth $857,500. Corporate insiders own 18.33% of the company's stock.

Accel Entertainment Stock Up 0.8%

NYSE:ACEL opened at $11.22 on Wednesday. The firm's 50 day simple moving average is $11.64 and its 200 day simple moving average is $11.26. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.64 and a quick ratio of 2.56. Accel Entertainment, Inc. has a one year low of $9.02 and a one year high of $13.27. The company has a market cap of $945.31 million, a PE ratio of 28.04 and a beta of 1.12.

Wall Street Analysts Forecast Growth

ACEL has been the topic of several analyst reports. Zacks Research lowered Accel Entertainment from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Wall Street Zen downgraded shares of Accel Entertainment from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Accel Entertainment has a consensus rating of "Moderate Buy" and an average price target of $15.50.

Accel Entertainment 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.

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