Hsbc Holdings PLC Sells 55,204 Shares of Accel Entertainment, Inc. $ACEL

Hsbc Holdings PLC lessened its stake in shares of Accel Entertainment, Inc. (NYSE:ACEL) by 46.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,406 shares of the company’s stock after selling 55,204 shares during the period. Hsbc Holdings PLC owned 0.08% of Accel Entertainment worth $689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ACEL. CIBC Bancorp USA Inc. acquired a new position in Accel Entertainment in the 3rd quarter valued at $4,368,000. Millennium Management LLC lifted its position in Accel Entertainment by 252.5% during the 1st quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock worth $4,985,000 after acquiring an additional 359,948 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Accel Entertainment by 177.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 548,952 shares of the company’s stock worth $6,264,000 after acquiring an additional 351,012 shares during the last quarter. Visualize Group LP bought a new stake in Accel Entertainment during the third quarter valued at about $2,280,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Accel Entertainment by 60.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 391,350 shares of the company’s stock valued at $4,606,000 after acquiring an additional 147,653 shares during the period. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at Accel Entertainment

In other Accel Entertainment news, Director Gordon Rubenstein sold 12,931 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $11.55, for a total value of $149,353.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Mark T. Phelan sold 25,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction 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 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 a total of 104,277 shares of company stock worth $1,259,917 over the last quarter. 14.47% of the stock is owned by company insiders.

Accel Entertainment Stock Down 2.6%

Shares of ACEL opened at $12.02 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.64 and a current ratio of 2.71. The company has a 50-day simple moving average of $12.46 and a 200-day simple moving average of $11.80. Accel Entertainment, Inc. has a 52 week low of $9.55 and a 52 week high of $14.00. The firm has a market capitalization of $977.94 million, a P/E ratio of 20.03 and a beta of 1.00.

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

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.