Accel Entertainment (NYSE:ACEL) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Accel Entertainment, Inc. (NYSE:ACEL) saw unusually-strong trading volume on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $13.00 to $16.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Approximately 178,250 shares were traded during mid-day trading, a decline of 30% from the previous session’s volume of 254,633 shares.The stock last traded at $10.23 and had previously closed at $11.61.

Insider Activity

In other Accel Entertainment news, Director Karl Mr. Peterson sold 30,000 shares of Accel Entertainment stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.00, for a total transaction of $330,000.00. Following the completion of the transaction, the director now directly owns 2,505,645 shares of the company’s stock, valued at $27,562,095. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Derek Harmer sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $11.21, for a total transaction of $112,100.00. Following the sale, the insider now directly owns 187,553 shares in the company, valued at approximately $2,102,469.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Karl Mr. Peterson sold 30,000 shares of Accel Entertainment stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $11.00, for a total value of $330,000.00. Following the completion of the transaction, the director now owns 2,505,645 shares of the company’s stock, valued at approximately $27,562,095. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,999 shares of company stock worth $1,520,439. Company insiders own 17.90% of the company’s stock.

Institutional Trading of Accel Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in ACEL. Teacher Retirement System of Texas boosted its position in Accel Entertainment by 9.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 27,401 shares of the company’s stock valued at $300,000 after buying an additional 2,323 shares during the last quarter. Barclays PLC boosted its holdings in Accel Entertainment by 4.0% in the third quarter. Barclays PLC now owns 68,762 shares of the company’s stock valued at $753,000 after acquiring an additional 2,642 shares during the last quarter. PEAK6 Investments LLC increased its position in Accel Entertainment by 9.6% in the third quarter. PEAK6 Investments LLC now owns 34,979 shares of the company’s stock worth $383,000 after purchasing an additional 3,073 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Accel Entertainment by 36.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,775 shares of the company’s stock worth $152,000 after purchasing an additional 3,917 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Accel Entertainment during the 1st quarter valued at about $52,000. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Accel Entertainment Trading Down 16.4 %

The business’s 50-day simple moving average is $11.45 and its 200-day simple moving average is $10.65. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.78 and a current ratio of 2.85. The company has a market capitalization of $813.70 million, a price-to-earnings ratio of 18.68 and a beta of 1.42.

Accel Entertainment (NYSE:ACEL) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. Accel Entertainment had a net margin of 3.90% and a return on equity of 39.62%. The firm had revenue of $297.07 million for the quarter, compared to analysts’ expectations of $286.32 million. On average, research analysts expect that Accel Entertainment, Inc. will post 0.75 earnings per share for the current fiscal year.

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.