Denali Advisors LLC Purchases New Position in Accel Entertainment, Inc. (NYSE:ACEL)

Denali Advisors LLC purchased a new position in shares of Accel Entertainment, Inc. (NYSE:ACEL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new position in Accel Entertainment during the first quarter worth $377,000. Hohimer Wealth Management LLC raised its stake in shares of Accel Entertainment by 5.4% in the first quarter. Hohimer Wealth Management LLC now owns 18,699 shares of the company's stock valued at $185,000 after acquiring an additional 961 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Accel Entertainment by 180.2% in the first quarter. New York State Common Retirement Fund now owns 39,650 shares of the company's stock valued at $393,000 after acquiring an additional 25,500 shares in the last quarter. Trifecta Capital Advisors LLC raised its stake in shares of Accel Entertainment by 437.9% in the first quarter. Trifecta Capital Advisors LLC now owns 9,144 shares of the company's stock valued at $91,000 after acquiring an additional 7,444 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Accel Entertainment by 2,599.2% in the first quarter. GAMMA Investing LLC now owns 13,739 shares of the company's stock valued at $1,385,000 after acquiring an additional 13,230 shares in the last quarter. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ACEL. Northland Securities increased their target price on Accel Entertainment to $15.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Macquarie reissued an "outperform" rating and set a $16.00 price target on shares of Accel Entertainment in a report on Tuesday, May 6th.

Insider Activity

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the 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 sale, the director owned 298,135 shares in the company, valued at $3,497,123.55. This represents a 7.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gordon Rubenstein sold 29,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $11.24, for a total transaction of $325,960.00. Following the transaction, the director owned 14,117 shares in the company, valued at approximately $158,675.08. This trade represents a 67.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,674 shares of company stock worth $1,649,158 in the last quarter. Company insiders own 18.33% of the company's stock.

Accel Entertainment Trading Down 1.1%

Shares of NYSE ACEL traded down $0.14 during trading on Wednesday, hitting $12.63. 67,059 shares of the company traded hands, compared to its average volume of 290,933. The company has a 50-day moving average price of $11.64 and a 200-day moving average price of $11.13. The company has a quick ratio of 2.35, a current ratio of 2.42 and a debt-to-equity ratio of 2.11. Accel Entertainment, Inc. has a 1 year low of $9.02 and a 1 year high of $12.96. The firm has a market capitalization of $1.07 billion, a P/E ratio of 25.82 and a beta of 1.23.

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.