Hsbc Holdings PLC Sells 55,204 Shares of Accel Entertainment, Inc. $ACEL

Hsbc Holdings PLC cut its stake in Accel Entertainment, Inc. (NYSE:ACEL) by 46.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,406 shares of the company’s stock after selling 55,204 shares during the period. Hsbc Holdings PLC’s holdings in Accel Entertainment were worth $689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ACEL. Engineers Gate Manager LP boosted its holdings in shares of Accel Entertainment by 8.7% in the 2nd quarter. Engineers Gate Manager LP now owns 11,960 shares of the company’s stock worth $141,000 after acquiring an additional 956 shares in the last quarter. Cerity Partners LLC increased its position 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 grew its stake in shares of Accel Entertainment by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 21,083 shares of the company’s stock valued at $248,000 after purchasing an additional 1,694 shares during the last quarter. Zacks Investment Management increased its stake 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 valued at $262,000 after buying an additional 2,035 shares during the period. Finally, MetLife Investment Management LLC increased its position in Accel Entertainment by 7.8% in the fourth quarter. MetLife Investment Management LLC now owns 29,035 shares of the company’s stock worth $331,000 after purchasing an additional 2,110 shares during the period. Institutional investors own 55.39% of the company’s stock.

Accel Entertainment Stock Down 2.6%

Accel Entertainment stock opened at $12.02 on Friday. The firm has a market capitalization of $977.94 million, a price-to-earnings ratio of 20.03 and a beta of 1.00. The company’s 50 day simple moving average is $12.46 and its 200 day simple moving average is $11.80. 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 fifty-two week low of $9.55 and a fifty-two week high of $14.00.

Accel Entertainment (NYSE:ACEL) last posted its earnings results on Tuesday, May 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Accel Entertainment had a return on equity of 25.70% and a net margin of 3.79%.The firm had revenue of $351.56 million during the quarter, compared to analysts’ expectations of $342.88 million. As a group, sell-side analysts anticipate that Accel Entertainment, Inc. will post 0.72 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Gordon Rubenstein sold 46,346 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $11.34, for a total transaction of $525,563.64. Following the completion of the sale, the director directly owned 4,946 shares of the company’s stock, valued at approximately $56,087.64. This represents a 90.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark T. Phelan sold 25,000 shares of the firm’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 transaction of $325,000.00. Following the sale, the chief operating officer owned 241,464 shares in the company, valued at $3,139,032. This trade represents a 9.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 104,277 shares of company stock valued at $1,259,917 over the last 90 days. 14.47% of the stock is owned by company insiders.

Accel Entertainment 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.