Accel Entertainment (NYSE:ACEL) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Accel Entertainment (NYSE:ACEL) from a strong-buy rating to a buy rating in a research report report published on Saturday.

Other equities research analysts have also recently issued research reports about the company. Zacks Research cut Accel Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Accel Entertainment in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Accel Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Accel Entertainment Stock Down 2.4%

ACEL stock opened at $9.95 on Friday. The stock has a market cap of $838.26 million, a PE ratio of 24.86 and a beta of 1.06. The firm’s 50-day simple moving average is $10.87 and its 200 day simple moving average is $11.34. Accel Entertainment has a fifty-two week low of $9.02 and a fifty-two week high of $13.27. The company has a quick ratio of 2.56, a current ratio of 2.64 and a debt-to-equity ratio of 2.15.

Insiders Place Their Bets

In related news, Director David W. Ruttenberg sold 25,000 shares of Accel Entertainment stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $11.11, for a total transaction of $277,750.00. Following the transaction, the director directly owned 248,135 shares of the company’s stock, valued at $2,756,779.85. The trade was a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accel Entertainment

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Accel Entertainment by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,506,347 shares of the company’s stock valued at $34,783,000 after purchasing an additional 40,524 shares during the period. Hill Path Capital LP acquired a new position in Accel Entertainment in the 2nd quarter valued at approximately $32,828,000. Geode Capital Management LLC lifted its position in Accel Entertainment by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,266,697 shares of the company’s stock worth $14,912,000 after buying an additional 26,419 shares in the last quarter. Invesco Ltd. lifted its position in Accel Entertainment by 24.7% in the 1st quarter. Invesco Ltd. now owns 912,129 shares of the company’s stock worth $9,048,000 after buying an additional 180,868 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Accel Entertainment by 252.5% during the 1st quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after buying an additional 359,948 shares during the period. 55.39% of the stock is owned by hedge funds and other institutional investors.

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.