Accel Entertainment, Inc. (NYSE:ACEL – Get Rating ) fell 3.7% on Wednesday after insiders sold shares in the company. The company traded as low as $7.95 and last traded at $7.97. 12,377 shares changed hands in mid-day trading, down 95% from the average of 241,322 shares. The stock had previously closed at $8.28. Specifically, insider Derek Harmer sold 40,000 shares of Accel Entertainment stock in a transaction on Friday, December 9th. The stock was sold at an average price of $8.24, for a total trade of $329,600.00. Following the completion of the sale, the insider now owns 169,229 shares in the company, valued at $1,394,446.96. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this link. Insiders own 18.77% of the company’s capital.
Analysts on Wall Street predict economic growth
Separately, Macquarie decreased their target price on Accel Entertainment from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th.
Accel Entertainment Stock Performance
The stock has a 50-day moving average of $8.84 and a 200-day moving average of $9.75. The company has a current ratio of 2.99, a current ratio of 3.06 and a debt ratio of 2.75. The company has a market cap of $695.36 million, a price-to-earnings ratio of 11.34 and a beta of 1.17.
Accel Entertainment (NYSE:ACEL – Get Rating ) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company’s revenue came in at $266.97 million for the quarter, compared to estimates of $269.83 million. Accel Entertainment had a return on equity of 43.85% and a gross margin of 7.64%. As a group, analysts predict that Accel Entertainment, Inc. will post 0.86 EPS for the current year.
Hedge funds weigh in on Accel Entertainment
Several institutional investors have recently added to or reduced their stakes in ACEL. Darlington Partners Capital Management LP raised its stake in Accel Entertainment by 5.9% in the second quarter. Darlington Partners Capital Management LP now owns 7,367,952 shares of the company’s stock valued at $78,248,000 after purchasing an additional 412,523 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Accel Entertainment by 423.3% during the first quarter. Prudential Financial Inc. now owns 361,691 shares of the company’s stock valued at $4,405,000 after purchasing an additional 292,576 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Accel Entertainment by 50.3% during the third quarter. Nuveen Asset Management LLC now owns 682,930 shares of the company’s stock valued at $5,334,000 after buying an additional 228,585 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Accel Entertainment by 4.9% during the first quarter. American Century Companies Inc. now owns 4,424,668 shares of the company’s stock valued at $53,892,000 after buying an additional 208,667 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased. its holdings in shares of Accel Entertainment by 267.0% in the first quarter. Jupiter Asset Management Ltd. now owns 190,485 shares of the company’s stock valued at $2,320,000 after purchasing an additional 138,586 shares during the last quarter. 46.80% of shares are owned by institutional investors and hedge funds.
About Accel Entertainment
(Get rated)
Accel Entertainment, Inc, together with its subsidiaries, operates as a distributed gaming company in the United States. It is involved in the installation, maintenance and operation of gaming stations; redemption devices that pay out winnings and include automatic teller (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, pubs, convenience stores, liquor stores, truck stops and grocery stores.
Further reading
This instant news alert was created using storytelling technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat editorial staff prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Accel Entertainment, you want to hear this.
MarketBeat keeps track of Wall Street’s highest and best analysts and the stocks they recommend to their clients daily. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches up … and Accel Entertainment wasn’t on the list.
While Accel Entertainment has a “Moderate Buy” rating among analysts, top analysts believe these five stocks are better buys.
Check out the five stocks here
