Seizert Capital Partners LLC trimmed its stake in Accel Entertainment, Inc. (NYSE:ACEL – Get Rating) by 25.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,038 shares of the company's stock after selling 6,288 shares during the quarter. Seizert Capital Partners LLC's holdings in Accel Entertainment were worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Great West Life Assurance Co. Can purchased a new stake in shares of Accel Entertainment in the third quarter worth approximately $25,000. New York State Teachers Retirement System raised its position in Accel Entertainment by 2,400.0% during the second quarter. New York State Teachers Retirement System now owns 5,000 shares of the company's stock valued at $53,000 after acquiring an additional 4,800 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Accel Entertainment during the third quarter valued at approximately $80,000. SG Americas Securities LLC bought a new position in Accel Entertainment during the third quarter valued at approximately $90,000. Finally, Advisor Group Holdings Inc. raised its position in Accel Entertainment by 87.1% during the first quarter. Advisor Group Holdings Inc. now owns 9,143 shares of the company's stock valued at $111,000 after acquiring an additional 4,257 shares in the last quarter. 47.34% of the stock is owned by hedge funds and other institutional investors.
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Separately, Macquarie cut their price objective on shares of 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 Price Performance
Shares of ACEL opened at $8.74 on Thursday. The firm has a market cap of $764.46 million, a PE ratio of 11.97 and a beta of 1.18. The firm's 50 day moving average price is $8.33 and its 200 day moving average price is $9.29. 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, Inc. has a twelve month low of $7.26 and a twelve month high of $14.04.Accel Entertainment (NYSE:ACEL – Get Rating) last issued its quarterly earnings data 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 net margin of 7.64% and a return on equity of 43.85%. The business had revenue of $266.97 million for the quarter, compared to the consensus estimate of $269.83 million. As a group, research analysts expect that Accel Entertainment, Inc. will post 0.86 EPS for the current fiscal year.
Insider Activity
In other news, CEO Andrew H. Rubenstein sold 35,882 shares of Accel Entertainment stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $8.04, for a total value of $288,491.28. Following the transaction, the chief executive officer now owns 4,315,557 shares of the company's stock, valued at $34,697,078.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, 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 transaction, the insider now owns 169,229 shares of the company's stock, valued at $1,394,446.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew H. Rubenstein sold 35,882 shares of Accel Entertainment stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $8.04, for a total transaction of $288,491.28. Following the completion of the transaction, the chief executive officer now directly owns 4,315,557 shares in the company, valued at approximately $34,697,078.28. The disclosure for this sale can be found here. Insiders own 18.77% of the company's stock.
About Accel Entertainment
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Accel Entertainment, Inc operates as a distributed gaming operator. 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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