Accel Entertainment (NYSE:ACEL) Share Price Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• Accel Entertainment shares rose above their 50-day moving average of $11.30, reaching $11.38 before trading at approximately $11.31, with 331,760 shares changing hands.
• Analyst sentiment remains positive overall, with four Buy ratings and three Holds producing a consensus “Moderate Buy” rating and a $14.60 target price.
• The company exceeded quarterly revenue expectations at $368.13 million but missed adjusted earnings estimates, reporting $0.15 per share versus the $0.19 consensus; insiders have sold 40,036 shares over the past three months.

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $11.30 and traded as high as $11.38. Accel Entertainment shares last traded at $11.3130, with a volume of 331,760 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ACEL. Citizens Jmp lifted their price objective 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. Truist Financial dropped their target price on Accel Entertainment from $14.00 to $13.00 and set a "hold" rating on the stock in a report on Tuesday, October 20th. Wall Street Zen upgraded Accel Entertainment from a "hold" rating to a "buy" rating in a report on Saturday, October 24th. Citigroup reissued a "market outperform" rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Accel Entertainment in a research note on Tuesday, September 22nd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.60.

Accel Entertainment Price Performance

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 company's 50-day simple moving average is $11.30 and its 200-day simple moving average is $11.70. The stock has a market capitalization of $918.50 million, a P/E ratio of 16.89 and a beta of 1.07.

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

Insider Transactions at Accel Entertainment

In related news, insider Derek Harmer sold 13,162 shares of Accel Entertainment stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $11.60, for a total transaction of $152,679.20. Following the completion of the transaction, the insider owned 157,767 shares in the company, valued at approximately $1,830,097.20. This trade represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 40,036 shares of company stock valued at $465,180. Company insiders own 14.47% of the company's stock.

Institutional Trading of Accel Entertainment

A number of hedge funds have recently made changes to their positions in ACEL. Oppenheimer & Co. Inc. bought a new stake in Accel Entertainment in the 3rd quarter valued at $128,000. USA Financial Formulas acquired a new stake in Accel Entertainment during the 3rd quarter valued at $41,000. Versant Capital Management Inc boosted its position in Accel Entertainment by 61.5% during the third quarter. Versant Capital Management Inc now owns 6,676 shares of the company's stock worth $71,000 after purchasing an additional 2,542 shares during the period. Globeflex Capital L P bought a new position in Accel Entertainment during the second quarter worth $3,894,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Accel Entertainment in the second quarter valued at $2,643,000. 55.39% of the stock is owned by institutional investors and hedge funds.

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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