Deutsche Bank AG Sells 378,651 Shares of Accel Entertainment, Inc. $ACEL

Key Points

• Deutsche Bank AG significantly reduced its stake in Accel Entertainment by 89.6% in Q1, ending up with only 43,732 shares valued at approximately $434,000.
• Despite Deutsche Bank's sell-off, other hedge funds like Wells Fargo and Barclays have increased their positions in Accel Entertainment, indicating varied investor sentiment.
• Accel Entertainment currently holds a consensus "Buy" rating from analysts with a price target of $15.50, while the stock has recently trended slightly upward, opening at $11.58.

Deutsche Bank AG cut its position in shares of Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 89.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,732 shares of the company's stock after selling 378,651 shares during the period. Deutsche Bank AG owned 0.05% of Accel Entertainment worth $434,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Accel Entertainment by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 690,173 shares of the company's stock valued at $7,370,000 after acquiring an additional 23,745 shares during the last quarter. Northern Trust Corp grew its position 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 in the last quarter. Barclays PLC increased its stake in shares of Accel Entertainment by 4.9% during the 4th quarter. Barclays PLC now owns 235,226 shares of the company's stock worth $2,512,000 after purchasing an additional 10,985 shares during the last quarter. Finally, Algert Global LLC increased its stake in shares of Accel Entertainment by 4.5% during the 4th quarter. Algert Global LLC now owns 185,655 shares of the company's stock worth $1,983,000 after purchasing an additional 8,015 shares during the last quarter. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Accel Entertainment Stock Up 0.3%

Accel Entertainment stock traded up $0.04 during mid-day trading on Monday, hitting $11.60. 299,330 shares of the company's stock were exchanged, compared to its average volume of 438,094. The company has a current ratio of 2.64, a quick ratio of 2.56 and a debt-to-equity ratio of 2.15. The stock has a market cap of $977.39 million, a P/E ratio of 28.99 and a beta of 1.12. Accel Entertainment, Inc. has a 1-year low of $9.02 and a 1-year high of $13.27. The stock has a 50 day moving average of $11.91 and a two-hundred day moving average of $11.29.

Insider Buying and Selling at Accel Entertainment

In other Accel Entertainment news, CAO Christen Kozlik sold 3,791 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $11.50, for a total transaction of $43,596.50. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $11.30, for a total transaction of $282,500.00. Following the transaction, the director directly owned 285,635 shares in the company, valued at $3,227,675.50. The trade was a 8.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,674 shares of company stock valued at $1,633,408. Corporate insiders own 18.33% of the company's stock.

Analyst Ratings Changes

Separately, Macquarie reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Accel Entertainment in a research note on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Accel Entertainment has a consensus rating of "Buy" and an average target price of $15.50.

Accel Entertainment Company 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.