Lazard Asset Management LLC Purchases 38,351 Shares of Accel Entertainment, Inc. (NYSE:ACEL)

Lazard Asset Management LLC increased its stake in shares of Accel Entertainment, Inc. (NYSE:ACEL - Free Report) by 40.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,214 shares of the company's stock after acquiring an additional 38,351 shares during the quarter. Lazard Asset Management LLC owned about 0.16% of Accel Entertainment worth $1,422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its position in Accel Entertainment by 34.6% during the third quarter. Barclays PLC now owns 224,241 shares of the company's stock worth $2,606,000 after acquiring an additional 57,666 shares during the period. JPMorgan Chase & Co. increased its position in Accel Entertainment by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 284,309 shares of the company's stock worth $3,304,000 after acquiring an additional 3,355 shares during the period. Vanguard Group Inc. boosted its stake in Accel Entertainment by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 3,465,823 shares of the company's stock worth $37,015,000 after buying an additional 53,379 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Accel Entertainment by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 448,578 shares of the company's stock worth $4,791,000 after buying an additional 6,641 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Accel Entertainment by 300.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 219,256 shares of the company's stock worth $2,342,000 after buying an additional 164,560 shares in the last quarter. Institutional investors own 55.39% of the company's stock.

Insider Activity

In other news, Director David W. Ruttenberg sold 25,000 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $11.01, for a total value of $275,250.00. Following the sale, the director now owns 323,135 shares in the company, valued at approximately $3,557,716.35. The trade was a 7.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derek Harmer sold 5,000 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $10.50, for a total transaction of $52,500.00. Following the completion of the sale, the insider now owns 211,575 shares in the company, valued at $2,221,537.50. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,000 shares of company stock worth $671,000. Corporate insiders own 19.17% of the company's stock.

Accel Entertainment Stock Performance

ACEL traded up $0.01 during trading on Friday, reaching $11.21. 197,681 shares of the company's stock were exchanged, compared to its average volume of 286,601. Accel Entertainment, Inc. has a fifty-two week low of $9.02 and a fifty-two week high of $12.96. The company has a quick ratio of 2.63, a current ratio of 2.71 and a debt-to-equity ratio of 2.54. The business has a 50 day moving average price of $10.79 and a 200 day moving average price of $11.07. The company has a market capitalization of $948.40 million, a P/E ratio of 21.97 and a beta of 1.22.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ACEL shares. Macquarie reiterated an "outperform" rating and set a $16.00 price target on shares of Accel Entertainment in a research note on Tuesday, May 6th. Northland Securities lifted their price target on shares of Accel Entertainment to $15.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st.

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.