Victory Capital Management Inc. Takes $377,000 Position in Accel Entertainment, Inc. (NYSE:ACEL)

Key Points

• Victory Capital Management Inc. has invested $377,000 in Accel Entertainment, acquiring 38,019 shares during the 1st quarter of the year.
• Research firms have given positive ratings for Accel Entertainment, with Northland Securities setting a price target of $15.00 and Macquarie setting it at $16.00.
• Insider selling has been notable, with Director David W. Ruttenberg selling 25,000 shares for $302,250, reducing his total ownership significantly.

Victory Capital Management Inc. purchased a new position in shares of Accel Entertainment, Inc. (NYSE:ACEL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 38,019 shares of the company's stock, valued at approximately $377,000.

Several other institutional investors and hedge funds have also modified their holdings of ACEL. Versant Capital Management Inc purchased a new position in shares of Accel Entertainment during the 1st quarter valued at $35,000. Covestor Ltd lifted its stake in shares of Accel Entertainment by 32.4% during the 4th quarter. Covestor Ltd now owns 4,294 shares of the company's stock valued at $46,000 after buying an additional 1,051 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Accel Entertainment by 11,304.3% during the 4th quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company's stock valued at $56,000 after buying an additional 5,200 shares in the last quarter. 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. Finally, Chapman Financial Group LLC purchased a new position in shares of Accel Entertainment during the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 55.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ACEL shares. Northland Securities boosted 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. Macquarie restated an "outperform" rating and issued a $16.00 target price on shares of Accel Entertainment in a report on Tuesday, May 6th.

Accel Entertainment Trading Down 3.1%

Accel Entertainment stock traded down $0.40 during trading hours on Friday, hitting $12.46. The company had a trading volume of 292,447 shares, compared to its average volume of 290,004. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.35 and a current ratio of 2.42. The company has a 50-day moving average price of $11.88 and a two-hundred day moving average price of $11.29. Accel Entertainment, Inc. has a 1 year low of $9.02 and a 1 year high of $13.27. The firm has a market cap of $1.05 billion, a P/E ratio of 25.43 and a beta of 1.32.

Insider Activity

In related news, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $12.09, for a total transaction of $302,250.00. Following the completion of the sale, the director owned 273,135 shares of the company's stock, valued at $3,302,202.15. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Christen Kozlik sold 3,791 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 4,534 shares of the company's stock, valued at $52,141. The trade was a 45.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,674 shares of company stock worth $1,649,158. 18.33% of the stock is currently owned by insiders.

About Accel Entertainment

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.