David Ruttenberg Sells 25,000 Shares of Accel Entertainment (NYSE:ACEL) Stock

Accel Entertainment, Inc. (NYSE:ACEL) Director David Ruttenberg sold 25,000 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $11.58, for a total transaction of $289,500.00. Following the transaction, the director directly owned 210,635 shares of the company’s stock, valued at approximately $2,439,153.30. This trade represents a 10.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Accel Entertainment Stock Down 0.8%

Shares of ACEL opened at $11.55 on Friday. The company has a market capitalization of $961.08 million, a price-to-earnings ratio of 23.10 and a beta of 1.08. Accel Entertainment, Inc. has a 52 week low of $9.02 and a 52 week high of $13.27. The stock’s 50-day moving average price is $10.86 and its 200-day moving average price is $11.14. The company has a quick ratio of 2.50, a current ratio of 2.57 and a debt-to-equity ratio of 2.12.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Truist Financial assumed coverage on shares of Accel Entertainment in a report on Tuesday, December 16th. They set a “hold” rating and a $13.00 target price for the company. Citizens Jmp assumed coverage on shares of Accel Entertainment in a report on Friday, December 5th. They issued a “market outperform” rating and a $13.00 price objective for the company. Macquarie reissued an “outperform” rating and set a $16.00 target price on shares of Accel Entertainment in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Accel Entertainment in a research report on Monday, December 29th. Finally, JMP Securities set a $13.00 price target on Accel Entertainment in a research note on Friday, December 5th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Hedge Funds Weigh In On Accel Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hill Path Capital LP acquired a new position in Accel Entertainment in the 2nd quarter valued at $32,828,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Accel Entertainment during the third quarter worth $4,368,000. Millennium Management LLC raised its position in shares of Accel Entertainment by 252.5% in the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after buying an additional 359,948 shares during the last quarter. Visualize Group LP purchased a new position in shares of Accel Entertainment in the third quarter worth about $2,280,000. Finally, Midwest Trust Co purchased a new position in shares of Accel Entertainment in the second quarter worth about $2,057,000. Hedge funds and other institutional investors own 55.39% of the company’s stock.

About Accel Entertainment

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.