Accel Entertainment, Inc. $ACEL Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC significantly reduced its holdings in Accel Entertainment, selling 62,132 shares and now owning just 23,872 shares, valued at $237,000.
• Other investors increased their stakes in Accel Entertainment, with Quarry LP and Magnetar Financial LLC boosting positions by 136.3% and 308.0%, respectively.
• Accel Entertainment's stock has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, while it maintains a consensus target price of $15.50.

Cubist Systematic Strategies LLC decreased its holdings in shares of Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 72.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,872 shares of the company's stock after selling 62,132 shares during the period. Cubist Systematic Strategies LLC's holdings in Accel Entertainment were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ACEL. Vanguard Group Inc. boosted its holdings in shares of Accel Entertainment by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,506,347 shares of the company's stock valued at $34,783,000 after buying an additional 40,524 shares during the period. Invesco Ltd. lifted its holdings in Accel Entertainment by 24.7% in the first quarter. Invesco Ltd. now owns 912,129 shares of the company's stock worth $9,048,000 after acquiring an additional 180,868 shares during the last quarter. Northern Trust Corp lifted its holdings in Accel Entertainment by 11.1% in the fourth quarter. Northern Trust Corp now owns 488,463 shares of the company's stock worth $5,217,000 after acquiring an additional 48,639 shares during the last quarter. Deutsche Bank AG boosted its stake in Accel Entertainment by 2.0% in the fourth quarter. Deutsche Bank AG now owns 422,383 shares of the company's stock valued at $4,511,000 after acquiring an additional 8,433 shares during the period. Finally, Algert Global LLC grew its holdings in shares of Accel Entertainment by 7.1% during the first quarter. Algert Global LLC now owns 198,825 shares of the company's stock valued at $1,972,000 after purchasing an additional 13,170 shares during the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.

Accel Entertainment Stock Performance

Shares of ACEL traded down $0.22 during mid-day trading on Tuesday, reaching $10.95. 97,078 shares of the company's stock traded hands, compared to its average volume of 355,119. The company has a debt-to-equity ratio of 2.15, a quick ratio of 2.56 and a current ratio of 2.64. The business's 50-day moving average price is $11.78 and its 200-day moving average price is $11.23. The stock has a market capitalization of $923.02 million, a P/E ratio of 27.38 and a beta of 1.12. Accel Entertainment, Inc. has a 12 month low of $9.02 and a 12 month high of $13.27.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Accel Entertainment from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $15.50.

Insider Buying and Selling at Accel Entertainment

In related news, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $11.10, for a total value of $277,500.00. Following the completion of the transaction, the director owned 260,635 shares in the company, valued at $2,893,048.50. This represents a 8.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Derek Harmer sold 5,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $11.50, for a total transaction of $57,500.00. Following the sale, the insider owned 202,880 shares in the company, valued at $2,333,120. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock worth $637,250 in the last ninety days. 18.33% of the stock is owned by company insiders.

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.