Derek Harmer Sells 26,324 Shares of Accel Entertainment (NYSE:ACEL) Stock

Key Points

• Insider sale: Derek Harmer sold 26,324 Accel Entertainment shares for approximately $306,148, reducing his direct stake by 13.35% to 170,929 shares. He also sold an additional 13,162 shares the following business day.
• Stock and earnings: ACEL traded near $11.54, below its 50-day and 200-day moving averages. The company missed quarterly EPS expectations ($0.15 versus $0.19) but exceeded revenue estimates with $368.13 million.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with a $14.80 average price target; institutional investors own 55.39% of the company.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) insider Derek Harmer sold 26,324 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $11.63, for a total value of $306,148.12. Following the transaction, the insider directly owned 170,929 shares of the company's stock, valued at $1,987,904.27. The trade was a 13.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, September 14th, Derek Harmer sold 13,162 shares of Accel Entertainment stock. The stock was sold at an average price of $11.60, for a total value of $152,679.20.

Accel Entertainment Price Performance

NYSE ACEL traded up $0.01 during mid-day trading on Tuesday, hitting $11.54. The stock had a trading volume of 290,894 shares, compared to its average volume of 341,751. The firm's 50 day moving average is $12.08 and its 200 day moving average is $11.96. Accel Entertainment, Inc. has a twelve month low of $9.55 and a twelve month high of $14.00. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.40. 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 announced its earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%.The business had revenue of $368.13 million for the quarter, compared to analyst estimates of $356.66 million. Equities research analysts forecast that Accel Entertainment, Inc. will post 0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accel Entertainment

A number of institutional investors have recently made changes to their positions in the stock. 9823 Capital L.P. acquired a new position in shares of Accel Entertainment in the 4th quarter worth approximately $180,000. FourThought Financial Partners LLC purchased a new position in shares of Accel Entertainment during the 4th quarter worth approximately $204,000. Caxton Associates LLP acquired a new stake in Accel Entertainment in the 1st quarter valued at approximately $208,000. Quantinno Capital Management LP increased its holdings in Accel Entertainment by 18.9% in the 1st quarter. Quantinno Capital Management LP now owns 123,906 shares of the company's stock valued at $1,352,000 after purchasing an additional 19,734 shares during the last quarter. Finally, Sei Investments Co. raised its position in Accel Entertainment by 66.3% in the first quarter. Sei Investments Co. now owns 68,586 shares of the company's stock valued at $748,000 after purchasing an additional 27,349 shares during the period. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ACEL shares. Weiss Ratings raised shares of Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. Citizens Jmp raised their target price on shares of Accel Entertainment from $14.00 to $15.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 5th. Wall Street Zen cut Accel Entertainment from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Zacks Research lowered Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 22nd. Finally, Wells Fargo & Company started coverage on Accel Entertainment in a report on Friday, August 21st. They issued an "equal weight" rating and a $14.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.80.

About Accel Entertainment

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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