Accel Entertainment, Inc. (NYSE:ACEL – Get Rating) dropped 3.7% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $7.95 and last traded at $7.97. Approximately 12,377 shares changed hands during mid-day trading, a decline of 95% from the average daily volume 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 that occurred on Friday, December 9th. The shares were sold at an average price of $8.24, for a total value of $329,600.00. Following the completion of the sale, the insider now owns 169,229 shares in the company, valued at approximately $1,394,446.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.77% of the company's stock.
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Analyst Ratings Changes
Separately, Macquarie reduced their price target on shares of Accel Entertainment from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday, November 9th.
Accel Entertainment Trading Down 3.7 %
The business has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $9.74. The stock has a market cap of $697.11 million, a price-to-earnings ratio of 10.92 and a beta of 1.17. The company has a debt-to-equity ratio of 2.75, a quick ratio of 2.99 and a current ratio of 3.06.
Accel Entertainment (NYSE:ACEL – Get Rating) last issued its earnings results on Tuesday, November 8th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). Accel Entertainment had a return on equity of 43.85% and a net margin of 7.64%. The firm had revenue of $266.97 million during the quarter, compared to analysts' expectations of $269.83 million. As a group, equities analysts anticipate that Accel Entertainment, Inc. will post 0.86 EPS for the current year.
Institutional Trading of Accel Entertainment
Several large investors have recently modified their holdings of the business. Arizona State Retirement System raised its holdings in shares of Accel Entertainment by 8.6% during the second quarter. Arizona State Retirement System now owns 16,570 shares of the company's stock valued at $176,000 after buying an additional 1,313 shares during the last quarter. Engineers Gate Manager LP grew its position in Accel Entertainment by 7.0% in the first quarter. Engineers Gate Manager LP now owns 23,398 shares of the company's stock worth $285,000 after buying an additional 1,527 shares during the last quarter. Alliancebernstein L.P. grew its position in Accel Entertainment by 8.6% in the third quarter. Alliancebernstein L.P. now owns 25,300 shares of the company's stock worth $198,000 after buying an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Accel Entertainment by 111.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,907 shares of the company's stock worth $31,000 after purchasing an additional 2,063 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Accel Entertainment by 11.1% during the 2nd quarter. Legal & General Group Plc now owns 23,524 shares of the company's stock worth $250,000 after purchasing an additional 2,345 shares in the last quarter. 46.80% of the stock is currently owned by institutional investors and hedge funds.
About Accel Entertainment
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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.
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