Globeflex Capital L P Acquires Shares of 308,784 Accel Entertainment, Inc. $ACEL

Globeflex Capital L P acquired a new stake in Accel Entertainment, Inc. (NYSE:ACEL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 308,784 shares of the company’s stock, valued at approximately $3,894,000. Globeflex Capital L P owned about 0.38% of Accel Entertainment at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd increased its position in Accel Entertainment by 249.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company’s stock valued at $1,521,000 after acquiring an additional 99,521 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Accel Entertainment by 63.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock valued at $11,814,000 after acquiring an additional 421,047 shares during the period. UBS Group AG lifted its holdings in shares of Accel Entertainment by 71.6% in the 4th quarter. UBS Group AG now owns 200,736 shares of the company’s stock worth $2,290,000 after acquiring an additional 83,725 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Accel Entertainment by 105.6% in the 4th quarter. Hsbc Holdings PLC now owns 118,610 shares of the company’s stock worth $1,352,000 after acquiring an additional 60,917 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Accel Entertainment by 17.1% during the 1st quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock worth $3,257,000 after purchasing an additional 43,663 shares during the period. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Accel Entertainment Stock Up 0.1%

Shares of NYSE ACEL opened at $12.07 on Monday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.40 and a current ratio of 2.47. The firm has a market capitalization of $979.96 million, a price-to-earnings ratio of 18.02 and a beta of 1.02. The stock has a 50 day moving average price of $12.45 and a 200 day moving average price of $11.89. Accel Entertainment, Inc. has a 52-week low of $9.55 and a 52-week high of $14.00.

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 the consensus estimate of $0.19 by ($0.04). The firm had revenue of $368.13 million during the quarter, compared to the consensus estimate of $356.66 million. Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%. Sell-side analysts expect that Accel Entertainment, Inc. will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Derek Harmer sold 20,000 shares of Accel Entertainment stock in a transaction dated Monday, June 15th. The stock was 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 in the company, valued at $2,441,751. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mark T. Phelan sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer directly owned 241,464 shares of the company’s stock, valued at approximately $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. 14.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on ACEL shares. Citizens Jmp upped their price target on shares of Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Truist Financial set a $14.00 price objective on Accel Entertainment in a research report on Wednesday. Wells Fargo & Company started coverage on Accel Entertainment in a research report on Friday. They set an “equal weight” rating and a $14.00 target price for the company. Citigroup reissued a “market outperform” rating on shares of Accel Entertainment in a research note on Wednesday, August 5th. Finally, National Bank Financial set a $15.00 price target on shares of Accel Entertainment in a report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

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.