Teacher Retirement System of Texas Cuts Stake in Accel Entertainment, Inc. (NYSE:ACEL)

Teacher Retirement System of Texas cut its position in Accel Entertainment, Inc. (NYSE:ACEL) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,713 shares of the company’s stock after selling 18,837 shares during the period. Teacher Retirement System of Texas’ holdings in Accel Entertainment were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Orvieto Partners L.P. acquired a new position in Accel Entertainment during the fourth quarter worth about $3,951,000. JPMorgan Chase & Co. grew its stake in Accel Entertainment by 70.0% during the fourth quarter. JPMorgan Chase & Co. now owns 483,401 shares of the company’s stock worth $5,163,000 after buying an additional 199,092 shares during the period. Renaissance Technologies LLC grew its stake in Accel Entertainment by 27.0% during the fourth quarter. Renaissance Technologies LLC now owns 823,917 shares of the company’s stock worth $8,799,000 after buying an additional 175,112 shares during the period. Financial Counselors Inc. purchased a new position in shares of Accel Entertainment in the fourth quarter valued at $1,866,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Accel Entertainment by 300.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 219,256 shares of the company’s stock valued at $2,342,000 after purchasing an additional 164,560 shares during the period. 55.39% of the stock is owned by hedge funds and other institutional investors.

Accel Entertainment Stock Performance

NYSE ACEL opened at $12.26 on Friday. The company’s fifty day moving average is $11.62 and its two-hundred day moving average is $11.11. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.42 and a quick ratio of 2.35. Accel Entertainment, Inc. has a 52-week low of $9.02 and a 52-week high of $12.96. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 25.02 and a beta of 1.23.

Insiders Place Their Bets

In other Accel Entertainment news, insider Derek Harmer sold 5,000 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $11.50, for a total transaction of $57,500.00. Following the completion of the sale, the insider directly owned 202,880 shares of the company’s stock, valued at approximately $2,333,120. The trade was a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Christen Kozlik sold 3,791 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $11.50, for a total value of $43,596.50. Following the sale, the chief accounting officer directly owned 4,534 shares of the company’s stock, valued at $52,141. This represents a 45.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,674 shares of company stock valued at $1,649,158. 18.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ACEL has been the topic of a number of research reports. Northland Securities increased their target price on shares of Accel Entertainment to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Macquarie restated an “outperform” rating and set a $16.00 price objective on shares of Accel Entertainment in a research report on Tuesday, May 6th.

Accel Entertainment 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.