Accel Entertainment (NYSE:ACEL) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Accel Entertainment (NYSE:ACEL) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities analysts also recently commented on the company. Weiss Ratings raised Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Wells Fargo & Company initiated coverage on Accel Entertainment in a report on Friday. They set an “equal weight” rating and a $14.00 price objective on the stock. National Bank Financial set a $15.00 price target on shares of Accel Entertainment in a research report on Wednesday, August 5th. Truist Financial set a $14.00 price objective on Accel Entertainment in a research report on Wednesday, August 19th. Finally, Citizens Jmp increased their price target on Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Accel Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Accel Entertainment Trading Down 0.6%

Shares of Accel Entertainment stock opened at $11.99 on Friday. Accel Entertainment has a 1-year low of $9.55 and a 1-year high of $14.00. The stock has a market cap of $973.22 million, a P/E ratio of 17.89 and a beta of 1.02. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.40. The stock’s 50 day simple moving average is $12.43 and its 200-day simple moving average is $11.89.

Accel Entertainment (NYSE:ACEL) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The firm had revenue of $368.13 million during the quarter, compared to analysts’ expectations of $356.66 million. Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. Analysts predict that Accel Entertainment will post 0.69 EPS for the current fiscal year.

Insider Transactions at Accel Entertainment

In other news, COO Mark T. Phelan sold 25,000 shares of the 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 completion of the transaction, the chief operating officer directly owned 241,464 shares in the company, valued at approximately $3,139,032. This represents a 9.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Harmer sold 20,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $13.00, for a total value of $260,000.00. Following the completion of the sale, the insider directly owned 187,827 shares of the company’s stock, valued at approximately $2,441,751. This represents a 9.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

Several large investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in shares of Accel Entertainment by 456.2% during the second quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock valued at $66,000 after purchasing an additional 4,608 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Accel Entertainment by 195.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock valued at $84,000 after acquiring an additional 4,700 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Accel Entertainment during the 1st quarter worth approximately $110,000. EntryPoint Capital LLC purchased a new position in Accel Entertainment during the 4th quarter worth approximately $118,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Accel Entertainment during the 4th quarter valued at $131,000. Institutional investors own 55.39% of the company’s stock.

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.