Short Interest in Accel Entertainment, Inc. (NYSE:ACEL) Declines By 15.3%

Accel Entertainment, Inc. (NYSE:ACEL) saw a significant decrease in short interest in April. As of April 15th, there was short interest totaling 1,189,139 shares, a decrease of 15.3% from the March 31st total of 1,403,230 shares. Based on an average trading volume of 340,481 shares, the short-interest ratio is presently 3.5 days. Approximately 1.7% of the company’s shares are short sold.

Accel Entertainment Trading Down 0.4%

NYSE ACEL opened at $12.44 on Friday. Accel Entertainment has a 12 month low of $9.55 and a 12 month high of $13.31. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.61 and a quick ratio of 2.55. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 20.73 and a beta of 1.04. The company’s fifty day moving average price is $11.48 and its two-hundred day moving average price is $11.05.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Accel Entertainment had a net margin of 3.87% and a return on equity of 27.49%. The firm had revenue of $341.45 million for the quarter, compared to the consensus estimate of $335.66 million. As a group, research analysts predict that Accel Entertainment will post 0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ACEL. Wall Street Zen lowered shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 9th. Citizens Jmp raised their price target on shares of Accel Entertainment from $13.00 to $14.00 and gave the company a “market outperform” rating in a report on Wednesday, March 4th. Zacks Research raised shares of Accel Entertainment from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Finally, Truist Financial raised their price target on shares of Accel Entertainment from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $14.67.

Insider Transactions at Accel Entertainment

In other news, Director David W. Ruttenberg sold 10,000 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $11.53, for a total value of $115,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Derek Harmer sold 20,000 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $11.39, for a total transaction of $227,800.00. Following the completion of the sale, the insider directly owned 179,963 shares of the company’s stock, valued at $2,049,778.57. The trade was a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 864,247 shares of company stock valued at $9,865,047 over the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ACEL. CIBC Bancorp USA Inc. bought a new position in Accel Entertainment during the 3rd quarter valued at $4,368,000. Millennium Management LLC boosted its holdings in shares of Accel Entertainment by 252.5% in the 1st 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 period. Goldman Sachs Group Inc. grew its position in shares of Accel Entertainment by 177.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 548,952 shares of the company’s stock valued at $6,264,000 after buying an additional 351,012 shares during the last quarter. Visualize Group LP bought a new stake in shares of Accel Entertainment during the 3rd quarter valued at about $2,280,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Accel Entertainment by 60.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 391,350 shares of the company’s stock valued at $4,606,000 after buying an additional 147,653 shares during the last quarter. 55.39% of the stock is currently owned by institutional investors.

Accel Entertainment Company Profile

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.