Insider Selling: Accel Entertainment (NYSE:ACEL) Director Sells 46,346 Shares of Stock

Key Points

• Accel Entertainment director Gordon Rubenstein sold 46,346 shares on May 7 at an average price of $11.34, totaling about $525,564. After the sale, he held just 4,946 shares, a steep reduction in his stake.
• The insider also made several other large sales in recent weeks, including a 12,931-share sale on May 8 and multiple much larger transactions in March, indicating a broader pattern of selling.
• ACEL shares were down 0.9% to $11.53, even as the company recently beat quarterly EPS and revenue estimates; analysts currently rate the stock a consensus Buy with an average price target of $14.67.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) Director Gordon Rubenstein sold 46,346 shares of Accel Entertainment stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $11.34, for a total transaction of $525,563.64. Following the completion of the sale, the director owned 4,946 shares of the company's stock, valued at $56,087.64. This represents a 90.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Gordon Rubenstein also recently made the following trade(s):

• On Friday, May 8th, Gordon Rubenstein sold 12,931 shares of Accel Entertainment stock. The shares were sold at an average price of $11.55, for a total transaction of $149,353.05.
• On Thursday, March 12th, Gordon Rubenstein sold 172,943 shares of Accel Entertainment stock. The shares were sold at an average price of $11.37, for a total transaction of $1,966,361.91.
• On Thursday, March 12th, Gordon Rubenstein sold 3,766 shares of Accel Entertainment stock. The shares were sold at an average price of $11.37, for a total transaction of $42,819.42.
• On Wednesday, March 11th, Gordon Rubenstein sold 157,349 shares of Accel Entertainment stock. The shares were sold at an average price of $11.38, for a total transaction of $1,790,631.62.
• On Wednesday, March 11th, Gordon Rubenstein sold 3,212 shares of Accel Entertainment stock. The shares were sold at an average price of $11.38, for a total transaction of $36,552.56.
• On Tuesday, March 10th, Gordon Rubenstein sold 180,671 shares of Accel Entertainment stock. The shares were sold at an average price of $11.48, for a total transaction of $2,074,103.08.
• On Monday, March 9th, Gordon Rubenstein sold 228,262 shares of Accel Entertainment stock. The shares were sold at an average price of $11.37, for a total transaction of $2,595,338.94.
• On Friday, March 6th, Gordon Rubenstein sold 60,952 shares of Accel Entertainment stock. The shares were sold at an average price of $11.75, for a total transaction of $716,186.00.

Accel Entertainment Stock Down 0.9%

ACEL stock traded down $0.11 during midday trading on Monday, reaching $11.53. 351,465 shares of the company's stock traded hands, compared to its average volume of 385,477. The company has a market cap of $940.06 million, a price-to-earnings ratio of 19.21 and a beta of 1.04. The firm's fifty day moving average price is $11.52 and its 200-day moving average price is $11.09. The company has a quick ratio of 2.64, a current ratio of 2.71 and a debt-to-equity ratio of 2.02. Accel Entertainment, Inc. has a 52 week low of $9.55 and a 52 week high of $13.31.

Accel Entertainment (NYSE:ACEL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The business had revenue of $351.56 million during the quarter, compared to analyst estimates of $342.88 million. Accel Entertainment had a net margin of 3.79% and a return on equity of 25.70%. As a group, sell-side analysts forecast that Accel Entertainment, Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on ACEL shares. Wall Street Zen lowered shares of Accel Entertainment from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 2nd. Zacks Research upgraded shares of Accel Entertainment from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 20th. Truist Financial lifted their price objective on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a "hold" rating in a report on Wednesday, March 4th. Weiss Ratings raised shares of Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 9th. Finally, Citizens Jmp lifted their price objective on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a "market outperform" rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Accel Entertainment currently has an average rating of "Buy" and an average price target of $14.67.

Hedge Funds Weigh In On Accel Entertainment

A number of hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd boosted its holdings in Accel Entertainment by 249.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company's stock worth $1,521,000 after acquiring an additional 99,521 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Accel Entertainment by 105.6% during the 4th quarter. Hsbc Holdings PLC now owns 118,610 shares of the company's stock worth $1,352,000 after acquiring an additional 60,917 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Accel Entertainment during the 4th quarter worth $131,000. EP Wealth Advisors LLC purchased a new position in Accel Entertainment during the 4th quarter worth $255,000. Finally, Empowered Funds LLC purchased a new position in Accel Entertainment during the 4th quarter worth $1,032,000. 55.39% of the stock is owned by hedge funds and other institutional investors.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.