Accel Entertainment (NYSE:ACEL) Sees Unusually-High Trading Volume Following Analyst Upgrade

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) shares saw strong trading volume on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $13.00 to $16.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. 178,250 shares changed hands during trading, a decline of 30% from the previous session's volume of 254,633 shares.The stock last traded at $10.23 and had previously closed at $11.61.

Insider Activity

In other news, Director Karl Mr. Peterson sold 16,707 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $12.00, for a total transaction of $200,484.00. Following the sale, the director now directly owns 2,478,938 shares of the company's stock, valued at approximately $29,747,256. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Accel Entertainment news, Director Karl Mr. Peterson sold 16,707 shares of the firm's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $12.00, for a total transaction of $200,484.00. Following the transaction, the director now owns 2,478,938 shares of the company's stock, valued at $29,747,256. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Derek Harmer sold 10,000 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $11.21, for a total value of $112,100.00. Following the completion of the sale, the insider now directly owns 187,553 shares of the company's stock, valued at $2,102,469.13. The disclosure for this sale can be found here. Insiders sold a total of 135,999 shares of company stock valued at $1,520,439 in the last three months. 17.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Accel Entertainment

A number of hedge funds have recently modified their holdings of the business. Cape Investment Advisory Inc. acquired a new position in shares of Accel Entertainment in the fourth quarter valued at approximately $50,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Accel Entertainment in the first quarter valued at about $52,000. Semanteon Capital Management LP purchased a new position in Accel Entertainment during the fourth quarter worth about $104,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Accel Entertainment by 110.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,858 shares of the company's stock valued at $119,000 after purchasing an additional 5,690 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Accel Entertainment in the 4th quarter valued at approximately $141,000. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

Accel Entertainment Price Performance

The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.78 and a current ratio of 2.85. The company has a 50-day simple moving average of $11.45 and a 200-day simple moving average of $10.65. The company has a market cap of $830.04 million, a price-to-earnings ratio of 18.68 and a beta of 1.42.

Accel Entertainment (NYSE:ACEL - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.08. Accel Entertainment had a return on equity of 39.62% and a net margin of 3.90%. The firm had revenue of $297.07 million during the quarter, compared to analysts' expectations of $286.32 million. As a group, research analysts predict that Accel Entertainment, Inc. will post 0.75 earnings per share for the current year.

About Accel Entertainment

Accel Entertainment, Inc, together with its subsidiaries, operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of gaming terminals; redemption devices that disburse winnings and contain automated teller machine (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.