Allianz Asset Management GmbH Invests $147,000 in Accel Entertainment, Inc. (NYSE:ACEL)

Allianz Asset Management GmbH acquired a new stake in Accel Entertainment, Inc. (NYSE:ACEL) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,800 shares of the company’s stock, valued at approximately $147,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hohimer Wealth Management LLC increased its stake in Accel Entertainment by 5.4% during the first quarter. Hohimer Wealth Management LLC now owns 18,699 shares of the company’s stock valued at $185,000 after acquiring an additional 961 shares during the period. Covestor Ltd lifted its position in shares of Accel Entertainment by 32.4% in the 4th quarter. Covestor Ltd now owns 4,294 shares of the company’s stock worth $46,000 after acquiring an additional 1,051 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of Accel Entertainment by 21.0% during the 4th quarter. EP Wealth Advisors LLC now owns 15,186 shares of the company’s stock worth $162,000 after purchasing an additional 2,640 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Accel Entertainment by 18.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,634 shares of the company’s stock valued at $221,000 after purchasing an additional 3,237 shares during the period. Finally, AdvisorShares Investments LLC increased its position in shares of Accel Entertainment by 11.5% during the fourth quarter. AdvisorShares Investments LLC now owns 32,070 shares of the company’s stock valued at $343,000 after purchasing an additional 3,300 shares during the period. Institutional investors and hedge funds own 55.39% of the company’s stock.

Accel Entertainment Stock Performance

NYSE:ACEL opened at $12.27 on Tuesday. The firm has a market capitalization of $1.04 billion, a PE ratio of 25.04 and a beta of 1.32. The company has a quick ratio of 2.35, a current ratio of 2.42 and a debt-to-equity ratio of 2.11. Accel Entertainment, Inc. has a 12-month low of $9.02 and a 12-month high of $13.27. The firm has a 50-day moving average price of $11.90 and a 200 day moving average price of $11.30.

Insider Buying and Selling

In related news, Director David W. Ruttenberg sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $12.09, for a total transaction of $302,250.00. Following the completion of the transaction, the director owned 273,135 shares in the company, valued at $3,302,202.15. This trade represents a 8.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon Rubenstein sold 29,000 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $11.24, for a total value of $325,960.00. Following the completion of the sale, the director directly owned 14,117 shares in the company, valued at approximately $158,675.08. This represents a 67.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,674 shares of company stock valued at $1,649,158. 18.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on ACEL shares. Northland Securities raised their target price on Accel Entertainment to $15.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Macquarie restated an “outperform” rating and issued a $16.00 price objective on shares of Accel Entertainment in a research note on Tuesday, May 6th.

About Accel Entertainment

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.