Accel Entertainment, Inc. (NYSE:ACEL) Sees Large Increase in Short Interest

Accel Entertainment, Inc. (NYSE:ACEL) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 1,290,000 shares, an increase of 12.2% from the August 31st total of 1,150,000 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average trading volume of 218,000 shares, the days-to-cover ratio is presently 5.9 days.

Insiders Place Their Bets

In other Accel Entertainment news, CEO Andrew H. Rubenstein sold 25,681 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $12.22, for a total value of $313,821.82. Following the sale, the chief executive officer now directly owns 4,226,509 shares in the company, valued at $51,647,939.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Accel Entertainment news, insider Derek Harmer sold 5,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $10.50, for a total transaction of $52,500.00. Following the sale, the insider now owns 182,804 shares in the company, valued at approximately $1,919,442. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew H. Rubenstein sold 25,681 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $12.22, for a total value of $313,821.82. Following the sale, the chief executive officer now owns 4,226,509 shares in the company, valued at approximately $51,647,939.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,198 shares of company stock worth $1,297,845. 19.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Accel Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of ACEL. Covestor Ltd grew its stake in Accel Entertainment by 31,840.0% during the 1st quarter. Covestor Ltd now owns 3,194 shares of the company’s stock valued at $38,000 after acquiring an additional 3,184 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Accel Entertainment in the 1st quarter valued at approximately $52,000. Quarry LP grew its stake in shares of Accel Entertainment by 268.4% in the 2nd quarter. Quarry LP now owns 8,642 shares of the company’s stock valued at $89,000 after buying an additional 6,296 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Accel Entertainment in the 1st quarter valued at approximately $169,000. Finally, Principal Financial Group Inc. grew its stake in shares of Accel Entertainment by 8.2% in the 2nd quarter. Principal Financial Group Inc. now owns 19,938 shares of the company’s stock valued at $205,000 after buying an additional 1,519 shares in the last quarter. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Accel Entertainment Trading Down 0.3 %

NYSE ACEL traded down $0.04 on Tuesday, hitting $11.58. 66,650 shares of the company were exchanged, compared to its average volume of 255,500. The company’s 50 day moving average price is $11.29 and its 200-day moving average price is $10.87. The company has a debt-to-equity ratio of 2.57, a current ratio of 3.05 and a quick ratio of 2.98. The firm has a market capitalization of $956.97 million, a P/E ratio of 22.78 and a beta of 1.47. Accel Entertainment has a twelve month low of $9.37 and a twelve month high of $12.61.

Accel Entertainment (NYSE:ACEL) last released its earnings results on Tuesday, July 30th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. Accel Entertainment had a return on equity of 36.19% and a net margin of 4.05%. The company had revenue of $309.41 million for the quarter, compared to analysts’ expectations of $302.24 million. Analysts predict that Accel Entertainment will post 0.75 earnings per share for the current fiscal year.

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.