Accel Entertainment, Inc. $ACEL Position Cut by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Accel Entertainment by 19.6%, selling 136,600 shares during the first quarter and retaining approximately 559,910 shares, valued at $5.55 million.
• Several other institutional investors also adjusted their positions in Accel Entertainment, with a total of 55.39% of the stock now owned by institutional investors.
• Accel Entertainment's stock currently has an average rating of "Buy" from analysts, with a target price ranging from $15.00 to $16.00 per share.

Hotchkis & Wiley Capital Management LLC lowered its stake in Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 19.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,910 shares of the company's stock after selling 136,600 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.66% of Accel Entertainment worth $5,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ACEL. Wells Fargo & Company MN raised its position in shares of Accel Entertainment by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 24,145 shares of the company's stock worth $258,000 after acquiring an additional 8,228 shares in the last quarter. Barclays PLC raised its position 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 acquiring an additional 10,985 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Accel Entertainment by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 690,173 shares of the company's stock worth $7,370,000 after acquiring an additional 23,745 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Accel Entertainment by 483.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,422 shares of the company's stock worth $79,000 after acquiring an additional 6,151 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Accel Entertainment by 18.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,634 shares of the company's stock worth $221,000 after acquiring an additional 3,237 shares in the last quarter. Institutional investors and hedge funds own 55.39% of the company's stock.

Insider Buying and Selling

In other news, insider Derek Harmer sold 5,000 shares of the stock in a transaction that occurred on 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 directly owned 202,880 shares in the company, valued at approximately $2,333,120. This represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christen Kozlik sold 3,791 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $11.50, for a total value of $43,596.50. Following the sale, the chief accounting officer owned 4,534 shares in the company, valued at $52,141. The trade was a 45.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,674 shares of company stock valued at $1,633,408 over the last quarter. Company insiders own 18.33% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ACEL shares. Macquarie reissued an "outperform" rating and set a $16.00 target price on shares of Accel Entertainment in a research report on Tuesday, May 6th. Northland Securities raised their target price on Accel Entertainment to $15.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Accel Entertainment presently has a consensus rating of "Buy" and a consensus price target of $15.50.

Accel Entertainment Stock Performance

Shares of Accel Entertainment stock traded up $0.02 on Thursday, reaching $11.57. 313,239 shares of the company were exchanged, compared to its average volume of 438,726. 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 company's 50-day moving average is $11.90 and its two-hundred day moving average is $11.30. The firm has a market cap of $974.90 million, a price-to-earnings ratio of 28.92 and a beta of 1.32. Accel Entertainment, Inc. has a 1-year low of $9.02 and a 1-year high of $13.27.

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.