2,789,113 Shares in Accel Entertainment, Inc. $ACEL Purchased by Hill Path Capital LP

Hill Path Capital LP acquired a new stake in Accel Entertainment, Inc. (NYSE:ACEL) during the 2nd quarter, HoldingsChannel reports. The firm acquired 2,789,113 shares of the company’s stock, valued at approximately $32,828,000. Accel Entertainment makes up 1.7% of Hill Path Capital LP’s investment portfolio, making the stock its 6th biggest holding.

A number of other hedge funds have also modified their holdings of ACEL. CWM LLC grew its stake in Accel Entertainment by 151.7% in the second quarter. CWM LLC now owns 4,992 shares of the company’s stock valued at $59,000 after purchasing an additional 3,009 shares in the last quarter. XTX Topco Ltd acquired a new stake in Accel Entertainment in the first quarter valued at approximately $101,000. Jacobs Levy Equity Management Inc. acquired a new position in Accel Entertainment during the first quarter worth $110,000. Quarry LP raised its holdings in Accel Entertainment by 136.3% during the first quarter. Quarry LP now owns 11,784 shares of the company’s stock valued at $117,000 after buying an additional 6,797 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Accel Entertainment in the first quarter worth about $134,000. 55.39% of the stock is owned by institutional investors and hedge funds.

Accel Entertainment Stock Up 2.6%

Shares of NYSE ACEL opened at $11.29 on Friday. Accel Entertainment, Inc. has a 52-week low of $9.02 and a 52-week high of $13.27. The company has a debt-to-equity ratio of 2.12, a quick ratio of 2.50 and a current ratio of 2.57. The business has a fifty day moving average of $10.30 and a two-hundred day moving average of $11.15. The stock has a market cap of $939.00 million, a PE ratio of 22.57 and a beta of 1.07.

Insider Buying and Selling at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $11.01, for a total transaction of $275,250.00. Following the transaction, the director directly owned 235,635 shares in the company, valued at approximately $2,594,341.35. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ACEL shares. JMP Securities set a $13.00 price objective on Accel Entertainment in a report on Friday, December 5th. Zacks Research downgraded shares of Accel Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Accel Entertainment in a research note on Monday. Citizens Jmp began coverage on Accel Entertainment in a report on Friday, December 5th. They set a “market outperform” rating and a $13.00 price target for the company. Finally, Macquarie reiterated an “outperform” rating and set a $16.00 target price on shares of Accel Entertainment in a research note on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Accel Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $14.25.

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.