Lazard Asset Management LLC Purchases 43,663 Shares of Accel Entertainment, Inc. $ACEL

Lazard Asset Management LLC increased its position in shares of Accel Entertainment, Inc. (NYSE:ACEL) by 17.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 298,515 shares of the company’s stock after purchasing an additional 43,663 shares during the period. Lazard Asset Management LLC’s holdings in Accel Entertainment were worth $3,257,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ACEL. Osaic Holdings Inc. raised its position in Accel Entertainment by 456.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock worth $66,000 after purchasing an additional 4,608 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Accel Entertainment by 195.9% during the second quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock valued at $84,000 after buying an additional 4,700 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Accel Entertainment during the first quarter valued at approximately $110,000. EntryPoint Capital LLC bought a new position in shares of Accel Entertainment during the fourth quarter valued at approximately $118,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Accel Entertainment during the fourth quarter valued at approximately $131,000. 55.39% of the stock is currently owned by institutional investors.

Insider Transactions at Accel Entertainment

In other Accel Entertainment news, insider Derek Harmer sold 20,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the transaction, the insider directly owned 187,827 shares in the company, valued at $2,441,751. This trade represents a 9.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gordon Rubenstein sold 12,931 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $11.55, for a total value of $149,353.05. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,277 shares of company stock worth $1,259,917 over the last three months. Company insiders own 14.47% of the company’s stock.

Accel Entertainment Price Performance

Accel Entertainment stock opened at $12.01 on Friday. The stock has a market cap of $977.49 million, a price-to-earnings ratio of 20.02 and a beta of 1.00. 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 1 year low of $9.55 and a 1 year high of $14.00. The firm has a 50-day moving average of $12.47 and a two-hundred day moving average of $11.80.

Accel Entertainment (NYSE:ACEL) last issued its earnings results on Tuesday, May 5th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $351.56 million for 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%. On average, research analysts forecast that Accel Entertainment, Inc. will post 0.72 earnings per share for the current year.

Analyst Ratings Changes

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

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.