Accel Entertainment (NYSE:ACEL) Insider Derek Harmer Sells 13,162 Shares of Stock

Accel Entertainment, Inc. (NYSE:ACEL) insider Derek Harmer sold 13,162 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $11.60, for a total value of $152,679.20. Following the transaction, the insider owned 157,767 shares of the company’s stock, valued at $1,830,097.20. This trade represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Derek Harmer also recently made the following trade(s):

• On Friday, September 11th, Derek Harmer sold 26,324 shares of Accel Entertainment stock. The stock was sold at an average price of $11.63, for a total value of $306,148.12.

Accel Entertainment Stock Performance

Shares of ACEL stock opened at $11.54 on Wednesday. The stock has a market capitalization of $937.34 million, a PE ratio of 17.23 and a beta of 1.01. The business’s 50 day simple moving average is $12.06 and its 200 day simple moving average is $11.96. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.40. Accel Entertainment, Inc. has a one year low of $9.55 and a one year high of $14.00.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $368.13 million for the quarter, compared to the consensus estimate of $356.66 million. Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%. As a group, research analysts forecast that Accel Entertainment, Inc. will post 0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ACEL shares. Wells Fargo & Company initiated coverage on shares of Accel Entertainment in a research note on Friday, August 21st. They set an “equal weight” rating and a $14.00 target price for the company. Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. National Bank Financial set a $15.00 price target on Accel Entertainment in a report on Wednesday, August 5th. Truist Financial set a $14.00 price objective on Accel Entertainment in a research report on Wednesday, August 19th. Finally, Wall Street Zen downgraded Accel Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Institutional Trading of Accel Entertainment

Several large investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its holdings in Accel Entertainment by 63.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock worth $11,814,000 after purchasing an additional 421,047 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Accel Entertainment by 249.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company’s stock valued at $1,521,000 after purchasing an additional 99,521 shares during the period. Globeflex Capital L P acquired a new position in shares of Accel Entertainment during the second quarter valued at about $3,894,000. UBS Group AG boosted its position in shares of Accel Entertainment by 71.6% during the 4th quarter. UBS Group AG now owns 200,736 shares of the company’s stock worth $2,290,000 after purchasing an additional 83,725 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Accel Entertainment during the 2nd quarter worth about $2,643,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services through a network of electronic gaming terminals placed in licensed third-party establishments. The company’s host locations include bars, restaurants, taverns, convenience stores, truck stops and other businesses that offer gaming as an additional customer amenity.

Accel typically manages the full gaming operation for its partners, including the installation, maintenance and servicing of gaming terminals, game content, regulatory compliance, cash management and player-support functions.