Geode Capital Management LLC Acquires 26,419 Shares of Accel Entertainment, Inc. $ACEL

Geode Capital Management LLC grew its holdings in Accel Entertainment, Inc. (NYSE:ACEL) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,266,697 shares of the company’s stock after purchasing an additional 26,419 shares during the period. Geode Capital Management LLC owned approximately 1.50% of Accel Entertainment worth $14,912,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CWM LLC raised its holdings in Accel Entertainment by 151.7% during the 2nd quarter. CWM LLC now owns 4,992 shares of the company’s stock valued at $59,000 after acquiring an additional 3,009 shares during the period. XTX Topco Ltd purchased a new position in shares of Accel Entertainment in the first quarter valued at $101,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Accel Entertainment during the 1st quarter valued at $110,000. Quarry LP lifted its holdings in Accel Entertainment by 136.3% during the 1st quarter. Quarry LP now owns 11,784 shares of the company’s stock worth $117,000 after purchasing an additional 6,797 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Accel Entertainment during the 1st quarter worth about $134,000. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $11.11, for a total transaction of $277,750.00. Following the sale, the director owned 248,135 shares in the company, valued at approximately $2,756,779.85. This trade represents a 9.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 18.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ACEL. Wall Street Zen lowered Accel Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Macquarie restated an “outperform” rating and issued a $16.00 price objective on shares of Accel Entertainment in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Accel Entertainment in a report on Tuesday, November 25th. Finally, Zacks Research cut shares of Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Accel Entertainment currently has an average rating of “Moderate Buy” and an average target price of $15.50.

Accel Entertainment Trading Up 0.8%

Shares of ACEL opened at $10.32 on Tuesday. Accel Entertainment, Inc. has a 1-year low of $9.02 and a 1-year high of $13.27. The company has a market capitalization of $858.73 million, a P/E ratio of 20.64 and a beta of 1.07. The company has a debt-to-equity ratio of 2.12, a current ratio of 2.57 and a quick ratio of 2.50. The firm’s 50 day simple moving average is $10.39 and its 200 day simple moving average is $11.19.

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.