CIBC Private Wealth Group LLC Reduces Stake in Accel Entertainment, Inc. (NYSE:ACEL)

CIBC Private Wealth Group LLC lessened its stake in shares of Accel Entertainment, Inc. (NYSE:ACEL) by 14.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 539,256 shares of the company’s stock after selling 90,319 shares during the period. CIBC Private Wealth Group LLC owned 0.65% of Accel Entertainment worth $5,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in Accel Entertainment by 300.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 219,256 shares of the company’s stock worth $2,342,000 after purchasing an additional 164,560 shares during the period. JPMorgan Chase & Co. raised its position in shares of Accel Entertainment by 70.0% during the 4th quarter. JPMorgan Chase & Co. now owns 483,401 shares of the company’s stock valued at $5,163,000 after buying an additional 199,092 shares during the period. Financial Counselors Inc. purchased a new stake in shares of Accel Entertainment during the 4th quarter valued at approximately $1,866,000. Prudential Financial Inc. acquired a new position in Accel Entertainment in the fourth quarter valued at approximately $171,000. Finally, Vanguard Group Inc. grew its position in Accel Entertainment by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 3,465,823 shares of the company’s stock worth $37,015,000 after acquiring an additional 53,379 shares during the period. Institutional investors and hedge funds own 55.39% of the company’s stock.

Insider Transactions at Accel Entertainment

In related news, Director David W. Ruttenberg sold 25,000 shares of Accel Entertainment stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $12.35, for a total value of $308,750.00. Following the completion of the sale, the director now owns 335,635 shares in the company, valued at approximately $4,145,092.25. This trade represents a 6.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.17% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Macquarie upped their price target on Accel Entertainment from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, February 28th.

Accel Entertainment Trading Up 0.6 %

Shares of ACEL stock opened at $9.98 on Wednesday. Accel Entertainment, Inc. has a 1-year low of $9.37 and a 1-year high of $12.96. The firm has a market cap of $853.47 million, a PE ratio of 19.56 and a beta of 1.54. The company has a 50-day moving average of $10.97 and a two-hundred day moving average of $11.20. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.71 and a quick ratio of 2.63.

Accel Entertainment 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.