Derek Harmer Sells 20,000 Shares of Accel Entertainment (NYSE:ACEL) Stock

Accel Entertainment, Inc. (NYSE:ACEL) insider Derek Harmer sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $11.39, for a total value of $227,800.00. Following the completion of the sale, the insider owned 179,963 shares of the company’s stock, valued at approximately $2,049,778.57. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Derek Harmer also recently made the following trade(s):

• On Tuesday, March 10th, Derek Harmer sold 2,092 shares of Accel Entertainment stock. The shares were sold at an average price of $11.45, for a total value of $23,953.40.
• On Tuesday, December 23rd, Derek Harmer sold 5,000 shares of Accel Entertainment stock. The shares were sold at an average price of $11.50, for a total transaction of $57,500.00.

Accel Entertainment Price Performance

Shares of Accel Entertainment stock opened at $11.03 on Wednesday. The firm has a fifty day simple moving average of $11.32 and a 200-day simple moving average of $10.94. The company has a current ratio of 2.61, a quick ratio of 2.55 and a debt-to-equity ratio of 2.11. Accel Entertainment, Inc. has a 1-year low of $9.02 and a 1-year high of $13.31. The stock has a market capitalization of $899.28 million, a price-to-earnings ratio of 18.38 and a beta of 1.05.

Accel Entertainment (NYSE:ACEL) last posted its earnings results on Tuesday, March 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $341.45 million for the quarter, compared to analyst estimates of $335.66 million. Accel Entertainment had a net margin of 3.87% and a return on equity of 27.49%. On average, sell-side analysts expect that Accel Entertainment, Inc. will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACEL. Engineers Gate Manager LP lifted its stake in shares of Accel Entertainment by 8.7% in the second quarter. Engineers Gate Manager LP now owns 11,960 shares of the company’s stock valued at $141,000 after buying an additional 956 shares during the period. Cerity Partners LLC raised its holdings in Accel Entertainment by 3.9% in the 2nd quarter. Cerity Partners LLC now owns 30,763 shares of the company’s stock valued at $362,000 after acquiring an additional 1,145 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Accel Entertainment by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,083 shares of the company’s stock valued at $248,000 after acquiring an additional 1,694 shares in the last quarter. Zacks Investment Management lifted its position in shares of Accel Entertainment by 9.4% in the 3rd quarter. Zacks Investment Management now owns 23,647 shares of the company’s stock worth $262,000 after acquiring an additional 2,035 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Accel Entertainment by 7.8% in the 4th quarter. MetLife Investment Management LLC now owns 29,035 shares of the company’s stock worth $331,000 after acquiring an additional 2,110 shares during the period. Institutional investors own 55.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citizens Jmp increased their target price on Accel Entertainment from $13.00 to $14.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 4th. Weiss Ratings upgraded Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 5th. Truist Financial increased their price objective on Accel Entertainment from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, March 4th. Finally, Citigroup started coverage on shares of Accel Entertainment in a research note on Friday, December 5th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

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.