Lazard Asset Management LLC Grows Stock Holdings in Accel Entertainment, Inc. $ACEL

Lazard Asset Management LLC raised its stake in shares of Accel Entertainment, Inc. (NYSE:ACEL) by 17.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 298,515 shares of the company’s stock after buying an additional 43,663 shares during the period. Lazard Asset Management LLC owned about 0.37% of Accel Entertainment worth $3,257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Engineers Gate Manager LP boosted its position in shares of Accel Entertainment by 8.7% during the second quarter. Engineers Gate Manager LP now owns 11,960 shares of the company’s stock worth $141,000 after acquiring an additional 956 shares during the last quarter. Cerity Partners LLC increased its holdings in Accel Entertainment by 3.9% in the 2nd quarter. Cerity Partners LLC now owns 30,763 shares of the company’s stock valued at $362,000 after acquiring an additional 1,145 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Accel Entertainment by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,083 shares of the company’s stock worth $248,000 after purchasing an additional 1,694 shares in the last quarter. Zacks Investment Management boosted its holdings in shares of Accel Entertainment by 9.4% during the 3rd quarter. Zacks Investment Management now owns 23,647 shares of the company’s stock valued at $262,000 after purchasing an additional 2,035 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Accel Entertainment by 7.8% during the fourth quarter. MetLife Investment Management LLC now owns 29,035 shares of the company’s stock valued at $331,000 after purchasing an additional 2,110 shares in the last quarter. 55.39% of the stock is owned by institutional investors.

Accel Entertainment Stock Up 0.4%

Shares of NYSE ACEL opened at $12.01 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.64 and a debt-to-equity ratio of 2.02. Accel Entertainment, Inc. has a 12-month low of $9.55 and a 12-month high of $14.00. The firm’s 50-day moving average price is $12.47 and its 200-day moving average price is $11.80. The stock has a market capitalization of $977.49 million, a price-to-earnings ratio of 20.02 and a beta of 1.00.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Accel Entertainment had a return on equity of 25.70% and a net margin of 3.79%.The company had revenue of $351.56 million during the quarter, compared to analyst estimates of $342.88 million. On average, equities research analysts anticipate that Accel Entertainment, Inc. will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gordon Rubenstein sold 12,931 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $11.55, for a total value of $149,353.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark T. Phelan sold 25,000 shares of Accel Entertainment stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $13.00, for a total value of $325,000.00. Following the completion of the transaction, the chief operating officer owned 241,464 shares of the company’s stock, valued at approximately $3,139,032. This trade represents a 9.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 104,277 shares of company stock valued at $1,259,917 over the last quarter. Company insiders own 14.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ACEL shares. Zacks Research lowered Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Wall Street Zen cut Accel Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings raised Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Accel Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $14.67.

Accel Entertainment 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.