Accel Entertainment (NYSE:ACEL) CAO Sells 3,600 Shares of Company Stock

Key Points

• Accel Entertainment’s chief accounting officer Christen Kozlik sold 3,600 shares at an average price of $13.80, for $49,680. The transaction reduced Kozlik’s direct holdings by 18.61% to 15,746 shares.
• The stock fell 2.1% on Friday to $13.54. Its quarterly results beat estimates, with earnings of $0.25 per share versus a $0.18 consensus and revenue of $363.56 million versus expectations of $358.62 million.
• Analysts give the stock a consensus “Moderate Buy” rating and a $14.25 average price target; institutional investors own 55.39% of shares.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) CAO Christen Kozlik sold 3,600 shares of the firm's stock in a transaction on Friday, November 13th. The shares were sold at an average price of $13.80, for a total transaction of $49,680.00. Following the completion of the transaction, the chief accounting officer directly owned 15,746 shares in the company, valued at approximately $217,294.80. This represents a 18.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Christen Kozlik also recently made the following trade(s):

• On Tuesday, September 15th, Christen Kozlik sold 550 shares of Accel Entertainment stock. The shares were sold at an average price of $11.55, for a total transaction of $6,352.50.

Accel Entertainment Stock Down 2.1%

Accel Entertainment stock traded down $0.29 during trading on Friday, reaching $13.54. 461,560 shares of the company's stock were exchanged, compared to its average volume of 623,735. The company's 50-day moving average is $11.60 and its two-hundred day moving average is $11.80. The company has a debt-to-equity ratio of 1.76, a quick ratio of 2.20 and a current ratio of 2.27. Accel Entertainment, Inc. has a 52-week low of $9.55 and a 52-week high of $14.08. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 17.81 and a beta of 1.09.

Accel Entertainment (NYSE:ACEL - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.18 by $0.07. The company had revenue of $363.56 million for the quarter, compared to analyst estimates of $358.62 million. Accel Entertainment had a return on equity of 22.62% and a net margin of 4.49%. On average, analysts predict that Accel Entertainment, Inc. will post 0.76 earnings per share for the current year.

Hedge Funds Weigh In On Accel Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its position in shares of Accel Entertainment by 63.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company's stock worth $11,814,000 after buying an additional 421,047 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of Accel Entertainment in the second quarter worth $3,894,000. Lazard Asset Management LLC raised its holdings in Accel Entertainment by 17.1% in the first quarter. Lazard Asset Management LLC now owns 298,515 shares of the company's stock valued at $3,257,000 after acquiring an additional 43,663 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Accel Entertainment in the second quarter valued at $2,643,000. Finally, First Trust Advisors LP raised its holdings in Accel Entertainment by 43.0% in the first quarter. First Trust Advisors LP now owns 203,057 shares of the company's stock valued at $2,215,000 after acquiring an additional 61,098 shares in the last quarter. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company assumed coverage on Accel Entertainment in a research report on Friday, August 21st. They set an "equal weight" rating and a $14.00 price target on the stock. National Bank Financial set a $15.00 price objective on shares of Accel Entertainment in a research report on Wednesday, August 5th. Citizens Jmp increased their price objective on shares of Accel Entertainment from $14.00 to $15.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 5th. Citigroup reiterated a "market outperform" rating on shares of Accel Entertainment in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Accel Entertainment from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.25.

Accel Entertainment Company Profile

Accel Entertainment, Inc. is a distributed gaming operator that supplies and manages video gaming terminals and related equipment at licensed locations. Its gaming machines are typically placed in bars, restaurants and other local businesses that share in the revenue generated by play. The company provides services such as installing, maintaining and monitoring its equipment, along with support for the regulatory requirements involved in operating gaming terminals. Accel's business model gives local venues access to gaming without requiring them to manage the machines themselves.

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