Orvieto Partners L.P. Increases Stake in Accel Entertainment, Inc. $ACEL

Orvieto Partners L.P. grew its holdings in Accel Entertainment, Inc. (NYSE:ACEL) by 74.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,838 shares of the company’s stock after acquiring an additional 57,292 shares during the period. Accel Entertainment accounts for 1.2% of Orvieto Partners L.P.’s portfolio, making the stock its 25th largest holding. Orvieto Partners L.P. owned 0.16% of Accel Entertainment worth $1,460,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC increased its stake in shares of Accel Entertainment by 13.1% in the 1st quarter. AQR Capital Management LLC now owns 160,415 shares of the company’s stock worth $1,591,000 after purchasing an additional 18,643 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Accel Entertainment in the 1st quarter worth $110,000. Millennium Management LLC lifted its position in Accel Entertainment by 252.5% during the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after purchasing an additional 359,948 shares in the last quarter. Jane Street Group LLC lifted its position in Accel Entertainment by 157.5% during the first quarter. Jane Street Group LLC now owns 37,108 shares of the company’s stock valued at $368,000 after purchasing an additional 22,695 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Accel Entertainment by 10.2% during the second quarter. Rhumbline Advisers now owns 81,054 shares of the company’s stock valued at $954,000 after purchasing an additional 7,501 shares in the last quarter. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ACEL shares. Zacks Research cut Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings raised Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Finally, Wall Street Zen downgraded Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Accel Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $14.67.

Accel Entertainment Stock Up 0.1%

Shares of ACEL stock opened at $11.95 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.71 and a quick ratio of 2.64. Accel Entertainment, Inc. has a one year low of $9.55 and a one year high of $14.00. The company’s fifty day moving average price is $12.41 and its 200-day moving average price is $11.77. The company has a market capitalization of $972.77 million, a price-to-earnings ratio of 19.92 and a beta of 1.00.

Accel Entertainment (NYSE:ACEL) last issued its earnings results on Tuesday, May 5th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $351.56 million during the quarter, compared to the consensus estimate of $342.88 million. Accel Entertainment had a net margin of 3.79% and a return on equity of 25.70%. Sell-side analysts expect that Accel Entertainment, Inc. will post 0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Derek Harmer sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $13.00, for a total value of $260,000.00. Following the transaction, the insider directly owned 187,827 shares of the company’s stock, valued at approximately $2,441,751. The trade was a 9.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gordon Rubenstein sold 46,346 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $11.34, for a total value of $525,563.64. Following the completion of the transaction, the director directly owned 4,946 shares in the company, valued at approximately $56,087.64. This represents a 90.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 104,277 shares of company stock worth $1,259,917. 14.47% of the stock is currently owned by insiders.

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.