Accel Entertainment (NYSE:ACEL) Sees Large Volume Increase – Here’s What Happened

Accel Entertainment, Inc. (NYSE:ACEL) shares saw unusually-strong trading volume on Tuesday . Approximately 1,020,075 shares were traded during trading, an increase of 163% from the previous session’s volume of 387,980 shares.The stock last traded at $11.15 and had previously closed at $11.24.

Analyst Ratings Changes

A number of equities analysts have issued reports on ACEL shares. Wall Street Zen cut shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. JMP Securities set a $13.00 price objective on Accel Entertainment in a research note on Friday, December 5th. Truist Financial assumed coverage on Accel Entertainment in a report on Tuesday, December 16th. They set a “hold” rating and a $13.00 target price on the stock. Citigroup began coverage on Accel Entertainment in a research report on Friday, December 5th. They set an “outperform” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Accel Entertainment in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Accel Entertainment Trading Up 1.6%

The business has a 50 day simple moving average of $11.08 and a 200-day simple moving average of $11.10. The stock has a market capitalization of $940.69 million, a price-to-earnings ratio of 22.61 and a beta of 1.08. The company has a debt-to-equity ratio of 2.12, a current ratio of 2.57 and a quick ratio of 2.50.

Insider Buying and Selling

In related news, Director David W. Ruttenberg sold 25,000 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.19, for a total transaction of $279,750.00. Following the sale, the director directly owned 223,135 shares in the company, valued at $2,496,880.65. This trade represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Derek Harmer sold 10,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.11, for a total transaction of $111,100.00. Following the completion of the sale, the insider directly owned 204,917 shares in the company, valued at $2,276,627.87. This represents a 4.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 90,000 shares of company stock worth $1,013,100. Insiders own 18.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ACEL. AQR Capital Management LLC increased its stake in Accel Entertainment by 13.1% in the 1st quarter. AQR Capital Management LLC now owns 160,415 shares of the company’s stock valued at $1,591,000 after buying an additional 18,643 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Accel Entertainment during the 1st quarter worth about $110,000. Millennium Management LLC grew its holdings in shares of Accel Entertainment by 252.5% in the 1st quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after acquiring an additional 359,948 shares in the last quarter. Jane Street Group LLC increased its position in shares of Accel Entertainment by 157.5% in the first quarter. Jane Street Group LLC now owns 37,108 shares of the company’s stock valued at $368,000 after acquiring an additional 22,695 shares during the last quarter. Finally, CWM LLC increased its position in shares of Accel Entertainment by 151.7% in the second quarter. CWM LLC now owns 4,992 shares of the company’s stock valued at $59,000 after acquiring an additional 3,009 shares during the last quarter. Institutional investors and hedge funds own 55.39% of the company’s stock.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.