Wall Street Zen Upgrades Accel Entertainment (NYSE:ACEL) to "Strong-Buy"

Key Points

• Accel Entertainment (NYSE:ACEL) has been upgraded by Wall Street Zen to a “strong-buy” rating from a previous "buy" rating.
• The company's stock is currently priced at $11.13, with a market capitalization of approximately $937.73 million and a PE ratio of 27.81.
• Insider trading activity saw insider Derek Harmer selling 5,000 shares and director David W. Ruttenberg selling 25,000 shares, indicating notable activity among corporate insiders.

Accel Entertainment (NYSE:ACEL - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

Accel Entertainment Stock Down 2.4%

ACEL opened at $11.13 on Friday. The company has a current ratio of 2.64, a quick ratio of 2.56 and a debt-to-equity ratio of 2.15. Accel Entertainment has a 1-year low of $9.02 and a 1-year high of $13.27. The company has a market capitalization of $937.73 million, a PE ratio of 27.81 and a beta of 1.12. The firm's 50 day simple moving average is $11.79 and its two-hundred day simple moving average is $11.24.

Insiders Place Their Bets

In related news, insider Derek Harmer sold 5,000 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $11.50, for a total transaction of $57,500.00. Following the completion of the transaction, the insider directly owned 202,880 shares of the company's stock, valued at approximately $2,333,120. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David W. Ruttenberg sold 25,000 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $11.10, for a total transaction of $277,500.00. Following the transaction, the director directly owned 260,635 shares of the company's stock, valued at $2,893,048.50. The trade was a 8.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,000 shares of company stock valued at $976,550. Corporate insiders own 18.33% of the company's stock.

Hedge Funds Weigh In On Accel Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. grew its stake in shares of Accel Entertainment by 456.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company's stock worth $66,000 after buying an additional 4,608 shares in the last quarter. State of Wyoming grew its stake in shares of Accel Entertainment by 236.6% in the 2nd quarter. State of Wyoming now owns 54,148 shares of the company's stock worth $637,000 after buying an additional 38,063 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Accel Entertainment by 195.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company's stock worth $84,000 after buying an additional 4,700 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Accel Entertainment by 5.1% in the 2nd quarter. Lazard Asset Management LLC now owns 220,318 shares of the company's stock worth $2,593,000 after buying an additional 10,772 shares in the last quarter. Finally, Hill Path Capital LP purchased a new position in shares of Accel Entertainment in the 2nd quarter worth $32,828,000. 55.39% of the stock is owned by hedge funds and other institutional investors.

Accel Entertainment Company Profile

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.

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