Hsbc Holdings PLC Buys 28,103 Shares of Accel Entertainment, Inc. $ACEL

Key Points

• Hsbc Holdings PLC increased its stake in Accel Entertainment by 97.4% in the first quarter, acquiring an additional 28,103 shares and now holds 56,952 shares worth approximately $564,000.
• Accel Entertainment's stock has a market cap of $977.39 million and current price targets from analysts range between $15.50 and $16.00, with a consensus rating of "Buy."
• Insider transactions have seen directors selling a significant number of shares, with reports indicating insiders have sold 143,674 shares worth over $1.6 million in the last three months.

Hsbc Holdings PLC lifted its stake in shares of Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 97.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,952 shares of the company's stock after acquiring an additional 28,103 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Accel Entertainment worth $564,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACEL. Versant Capital Management Inc purchased a new position in Accel Entertainment during the first quarter valued at approximately $35,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $79,000 after buying an additional 6,151 shares in the last quarter. Trifecta Capital Advisors LLC boosted its holdings in Accel Entertainment by 437.9% in the 1st quarter. Trifecta Capital Advisors LLC now owns 9,144 shares of the company's stock worth $91,000 after buying an additional 7,444 shares during the period. Chapman Financial Group LLC purchased a new stake in Accel Entertainment in the 4th quarter worth $98,000. Finally, XTX Topco Ltd bought a new stake in Accel Entertainment during the first quarter valued at about $101,000. Institutional investors own 55.39% of the company's stock.

Accel Entertainment Stock Performance

NYSE:ACEL opened at $11.60 on Monday. The company has a market cap of $977.39 million, a price-to-earnings 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's 50 day simple moving average is $11.91 and its two-hundred day simple moving average is $11.29. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.64 and a quick ratio of 2.56.

Analysts Set New Price Targets

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

Insider Buying and Selling at Accel Entertainment

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 285,635 shares of the company's stock, valued at $3,227,675.50. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gordon Rubenstein sold 29,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $11.24, for a total value of $325,960.00. Following the completion of the sale, the director directly owned 14,117 shares of the company's stock, valued at $158,675.08. The trade was a 67.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,674 shares of company stock worth $1,633,408 over the last three months. 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.

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