Insider Selling: Accel Entertainment (NYSE:ACEL) CEO Sells $300,000.00 in Stock

Key Points

• CEO Mark Phelan sold 25,000 shares for $300,000 at $12 per share under a pre-arranged Rule 10b5-1 plan. He retained 216,464 shares after the sale.
• Accel reported quarterly EPS of $0.25, above the $0.18 consensus, and revenue of $363.56 million, also exceeding estimates.
• Analysts give the stock a consensus “Moderate Buy” rating and a $14.60 average price target; shares were trading at $13.39 in the article.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) CEO Mark Phelan sold 25,000 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $12.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief executive officer directly owned 216,464 shares of the company's stock, valued at approximately $2,597,568. This represents a 10.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accel Entertainment Stock Performance

Accel Entertainment stock traded up $1.53 during mid-day trading on Wednesday, hitting $13.39. The company had a trading volume of 1,888,668 shares, compared to its average volume of 435,131. Accel Entertainment, Inc. has a 12-month low of $9.55 and a 12-month high of $14.00. The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 17.63 and a beta of 1.09. The company's fifty day moving average is $11.31 and its 200-day moving average is $11.71.

Accel Entertainment (NYSE:ACEL - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.18 by $0.07. The company had revenue of $363.56 million during the quarter, compared to analyst estimates of $358.62 million. Accel Entertainment had a return on equity of 23.23% and a net margin of 4.49%. Equities research analysts predict that Accel Entertainment, Inc. will post 0.69 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Accel Entertainment from a "hold" rating to a "buy" rating in a research note on Saturday, October 24th. Weiss Ratings reissued a "buy (b-)" rating on shares of Accel Entertainment in a research note on Tuesday, September 22nd. Wells Fargo & Company began coverage on shares of Accel Entertainment in a report on Friday, August 21st. They issued an "equal weight" rating and a $14.00 price objective on the stock. Citigroup reaffirmed a "market outperform" rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Finally, Citizens Jmp lifted their target price on shares of Accel Entertainment from $14.00 to $15.00 and gave the company a "market outperform" rating in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $14.60.

Institutional Trading of Accel Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Uhlmann Price Securities LLC purchased a new position in shares of Accel Entertainment in the third quarter valued at approximately $203,000. CenterBook Partners LP purchased a new stake in Accel Entertainment during the 3rd quarter worth approximately $499,000. Oppenheimer & Co. Inc. purchased a new stake in Accel Entertainment during the 3rd quarter worth approximately $128,000. USA Financial Formulas acquired a new stake in Accel Entertainment during the 3rd quarter worth approximately $41,000. Finally, Versant Capital Management Inc lifted its holdings in Accel Entertainment by 61.5% during the 3rd quarter. Versant Capital Management Inc now owns 6,676 shares of the company's stock worth $71,000 after buying an additional 2,542 shares in the last quarter. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

Key Accel Entertainment News

Here are the key news stories impacting Accel Entertainment this week:

• Positive Sentiment: Accel reported record third-quarter revenue of about $363.6 million, up year over year and above the roughly $358.6 million consensus estimate. Earnings were $0.25 per share, topping estimates of about $0.18; net income rose 55% and adjusted EBITDA increased 12% year over year. Accel Entertainment reports third-quarter results
• Positive Sentiment: Management outlined plans to roll out gaming locations in Chicago at a pace of 100 to 200 annually. The company also cited a $20 million to $25 million annualized EBITDA target for Fairmount, offering potential avenues for future growth. Accel outlines Chicago rollout and Fairmount target

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services and equipment to non-casino businesses. The company places and operates gaming terminals in locations such as bars, restaurants, taverns, convenience stores, truck stops, and fraternal or veterans organizations, allowing these establishments to offer legal gaming without operating a traditional casino.

Accel manages the installation, maintenance, monitoring, and regulatory compliance of its gaming equipment.

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