GAMMA Investing LLC Acquires 13,230 Shares of Accel Entertainment, Inc. (NYSE:ACEL)

GAMMA Investing LLC raised its holdings in shares of Accel Entertainment, Inc. (NYSE:ACEL) by 2,599.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,739 shares of the company’s stock after purchasing an additional 13,230 shares during the period. GAMMA Investing LLC’s holdings in Accel Entertainment were worth $1,385,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ACEL. Versant Capital Management Inc bought a new position in shares of Accel Entertainment during the first quarter valued at approximately $35,000. Covestor Ltd increased its position in shares of Accel Entertainment by 32.4% during the fourth quarter. Covestor Ltd now owns 4,294 shares of the company’s stock valued at $46,000 after acquiring an additional 1,051 shares in the last quarter. New York State Teachers Retirement System bought a new stake in shares of Accel Entertainment during the fourth quarter valued at approximately $51,000. Russell Investments Group Ltd. increased its position in shares of Accel Entertainment by 11,304.3% during the fourth quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company’s stock valued at $56,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Accel Entertainment by 483.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,422 shares of the company’s stock valued at $79,000 after acquiring an additional 6,151 shares in the last quarter. Institutional investors own 55.39% of the company’s stock.

Accel Entertainment Trading Down 3.9%

Shares of ACEL stock opened at $11.25 on Friday. Accel Entertainment, Inc. has a 12-month low of $9.02 and a 12-month high of $12.96. The firm’s 50 day moving average is $11.19 and its 200 day moving average is $11.03. The company has a current ratio of 2.71, a quick ratio of 2.63 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $951.79 million, a P/E ratio of 22.05 and a beta of 1.23.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Northland Securities raised their price target on shares of Accel Entertainment to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Macquarie reissued an “outperform” rating and set a $16.00 price target on shares of Accel Entertainment in a research report on Tuesday, May 6th.

Insider Activity

In related news, Director Gordon Rubenstein sold 25,883 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $11.10, for a total transaction of $287,301.30. Following the transaction, the director now directly owns 43,117 shares in the company, valued at approximately $478,598.70. This represents a 37.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christen Kozlik sold 3,791 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $11.50, for a total transaction of $43,596.50. Following the transaction, the chief accounting officer now owns 4,534 shares in the company, valued at $52,141. The trade was a 45.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,674 shares of company stock valued at $1,327,858 in the last 90 days. Company insiders own 18.33% of the company’s stock.

Accel Entertainment Company Profile

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.