Accel Entertainment (NYSE:ACEL) Sees Large Volume Increase After Analyst Upgrade

Accel Entertainment, Inc. (NYSE:ACEL) saw unusually-high trading volume on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $13.00 to $16.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Approximately 178,250 shares traded hands during mid-day trading, a decline of 30% from the previous session’s volume of 254,633 shares.The stock last traded at $10.23 and had previously closed at $11.61.

Insider Buying and Selling

In related news, Director David W. Ruttenberg sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $10.28, for a total transaction of $205,600.00. Following the transaction, the director now directly owns 466,545 shares in the company, valued at approximately $4,796,082.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David W. Ruttenberg sold 14,292 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $11.01, for a total transaction of $157,354.92. Following the completion of the sale, the director now directly owns 446,914 shares of the company’s stock, valued at $4,920,523.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David W. Ruttenberg sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $10.28, for a total transaction of $205,600.00. Following the completion of the transaction, the director now owns 466,545 shares in the company, valued at $4,796,082.60. The disclosure for this sale can be found here. Insiders sold a total of 135,999 shares of company stock worth $1,520,439 over the last three months. 17.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Accel Entertainment

Several large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Accel Entertainment by 974.6% during the third quarter. Invesco Ltd. now owns 974,356 shares of the company’s stock valued at $10,669,000 after acquiring an additional 883,688 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Accel Entertainment by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,101,745 shares of the company’s stock worth $33,964,000 after buying an additional 210,862 shares during the period. Barclays PLC grew its position in shares of Accel Entertainment by 4.0% during the 3rd quarter. Barclays PLC now owns 68,762 shares of the company’s stock worth $753,000 after buying an additional 2,642 shares in the last quarter. Trexquant Investment LP increased its stake in shares of Accel Entertainment by 125.3% during the third quarter. Trexquant Investment LP now owns 56,724 shares of the company’s stock valued at $621,000 after buying an additional 31,546 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Accel Entertainment by 75.8% during the third quarter. Hsbc Holdings PLC now owns 30,884 shares of the company’s stock valued at $339,000 after buying an additional 13,316 shares during the period. 55.39% of the stock is owned by hedge funds and other institutional investors.

Accel Entertainment Price Performance

The firm has a fifty day moving average of $11.42 and a two-hundred day moving average of $10.65. The stock has a market capitalization of $830.04 million, a P/E ratio of 18.69 and a beta of 1.42. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.85 and a quick ratio of 2.78.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.15 by $0.08. Accel Entertainment had a net margin of 3.90% and a return on equity of 39.62%. The business had revenue of $297.07 million during the quarter, compared to analyst estimates of $286.32 million. On average, analysts predict that Accel Entertainment, Inc. will post 0.75 EPS for the current year.

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.