Accel Entertainment (NYSE:ACEL) Insider Sells $152,679.20 in Stock

Key Points

• Insider selling: Derek Harmer sold 13,162 Accel Entertainment shares for $152,679.20 at an average price of $11.60, reducing his holdings by 7.7% to 157,767 shares. He also sold 26,324 shares the prior week.
• Stock and earnings: ACEL traded at $11.54, near the lower half of its $9.55–$14.00 52-week range. The company reported quarterly EPS of $0.15, below the $0.19 consensus estimate, although revenue of $368.13 million exceeded expectations.
• Analyst outlook: Institutional investors own 55.39% of the company, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $14.80, above the current share price.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) insider Derek Harmer sold 13,162 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $11.60, for a total transaction of $152,679.20. Following the completion of the sale, the insider owned 157,767 shares of the company's stock, valued at approximately $1,830,097.20. This represents a 7.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Derek Harmer also recently made the following trade(s):

• On Friday, September 11th, Derek Harmer sold 26,324 shares of Accel Entertainment stock. The stock was sold at an average price of $11.63, for a total transaction of $306,148.12.

Accel Entertainment Stock Up 0.1%

Accel Entertainment stock traded up $0.01 during midday trading on Tuesday, hitting $11.54. 290,894 shares of the stock were exchanged, compared to its average volume of 341,751. Accel Entertainment, Inc. has a 52-week low of $9.55 and a 52-week high of $14.00. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 1.91. The business's 50-day moving average price is $12.08 and its 200-day moving average price is $11.96. The stock has a market capitalization of $937.37 million, a price-to-earnings ratio of 17.23 and a beta of 1.01.

Accel Entertainment (NYSE:ACEL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. The firm had revenue of $368.13 million during the quarter, compared to analysts' expectations of $356.66 million. On average, research analysts expect that Accel Entertainment, Inc. will post 0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Accel Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its holdings in Accel Entertainment by 63.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company's stock valued at $11,814,000 after purchasing an additional 421,047 shares during the last quarter. Globeflex Capital L P bought a new position in Accel Entertainment in the 2nd quarter worth approximately $3,894,000. Lazard Asset Management LLC grew its stake in Accel Entertainment by 17.1% in the 1st quarter. Lazard Asset Management LLC now owns 298,515 shares of the company's stock valued at $3,257,000 after buying an additional 43,663 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Accel Entertainment during the 2nd quarter valued at $2,643,000. Finally, UBS Group AG lifted its position in shares of Accel Entertainment by 71.6% during the fourth quarter. UBS Group AG now owns 200,736 shares of the company's stock worth $2,290,000 after acquiring an additional 83,725 shares in the last quarter. 55.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. National Bank Financial set a $15.00 price objective on Accel Entertainment in a research note on Wednesday, August 5th. Wells Fargo & Company started coverage on Accel Entertainment in a research note on Friday, August 21st. They set an "equal weight" rating and a $14.00 target price on the stock. Truist Financial set a $14.00 price target on shares of Accel Entertainment in a report on Wednesday, August 19th. Citigroup reaffirmed a "market outperform" rating on shares of Accel Entertainment in a report on Wednesday, August 5th. Finally, Zacks Research downgraded Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 22nd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.80.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services through a network of electronic gaming terminals placed in licensed third-party establishments. The company's host locations include bars, restaurants, taverns, convenience stores, truck stops and other businesses that offer gaming as an additional customer amenity.

Accel typically manages the full gaming operation for its partners, including the installation, maintenance and servicing of gaming terminals, game content, regulatory compliance, cash management and player-support functions.

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