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Denali Advisors LLC Invests $899,000 in Accel Entertainment, Inc. (NYSE:ACEL)

Accel Entertainment logo with Consumer Discretionary background

Denali Advisors LLC purchased a new stake in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 90,644 shares of the company's stock, valued at approximately $899,000. Denali Advisors LLC owned approximately 0.11% of Accel Entertainment at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC lifted its position in shares of Accel Entertainment by 5.4% during the first quarter. Hohimer Wealth Management LLC now owns 18,699 shares of the company's stock worth $185,000 after purchasing an additional 961 shares during the last quarter. Covestor Ltd lifted its position in shares of Accel Entertainment by 32.4% during the fourth quarter. Covestor Ltd now owns 4,294 shares of the company's stock worth $46,000 after purchasing an additional 1,051 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Accel Entertainment by 21.0% during the fourth quarter. EP Wealth Advisors LLC now owns 15,186 shares of the company's stock worth $162,000 after purchasing an additional 2,640 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Accel Entertainment by 18.6% during 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. Finally, AdvisorShares Investments LLC lifted its position in shares of Accel Entertainment by 11.5% during 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. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Accel Entertainment

In related news, Director David W. Ruttenberg sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $11.73, for a total value of $293,250.00. Following the completion of the transaction, the director owned 298,135 shares of the company's stock, valued at approximately $3,497,123.55. This trade represents a 7.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christen Kozlik sold 3,791 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $11.50, for a total transaction of $43,596.50. Following the completion of the transaction, the chief accounting officer directly owned 4,534 shares of the company's stock, valued at $52,141. This represents a 45.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,674 shares of company stock worth $1,649,158. 18.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Macquarie reissued an "outperform" rating and issued a $16.00 target price on shares of Accel Entertainment in a report on Tuesday, May 6th. Northland Securities raised their target price on shares of Accel Entertainment to $15.00 and gave the stock a "buy" rating in a report on Thursday, May 1st.

View Our Latest Stock Analysis on ACEL

Accel Entertainment Stock Performance

Shares of ACEL traded up $0.16 during mid-day trading on Tuesday, reaching $12.80. 175,573 shares of the company's stock traded hands, compared to its average volume of 290,806. The business's 50-day moving average price is $11.64 and its 200-day moving average price is $11.13. The stock has a market capitalization of $1.08 billion, a P/E ratio of 26.07 and a beta of 1.23. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.35 and a current ratio of 2.42. Accel Entertainment, Inc. has a 12 month low of $9.02 and a 12 month high of $12.96.

Accel Entertainment Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Accel Entertainment (NYSE:ACEL)

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