Accel Entertainment, Inc. (NYSE:ACEL) Sees Significant Increase in Short Interest

Accel Entertainment, Inc. (NYSE:ACEL) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,300,000 shares, a growth of 12.1% from the May 31st total of 1,160,000 shares. Based on an average trading volume of 286,300 shares, the short-interest ratio is presently 4.5 days. Currently, 2.6% of the shares of the company are short sold.

Insiders Place Their Bets

In other Accel Entertainment news, insider Derek Harmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $10.00, for a total transaction of $50,000.00. Following the completion of the sale, the insider now directly owns 187,804 shares in the company, valued at $1,878,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Derek Harmer sold 5,000 shares of Accel Entertainment stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $10.00, for a total value of $50,000.00. Following the completion of the sale, the insider now directly owns 187,804 shares in the company, valued at $1,878,040. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Karl Mr. Peterson sold 10,000 shares of Accel Entertainment stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $11.67, for a total transaction of $116,700.00. Following the completion of the sale, the director now owns 2,468,938 shares of the company’s stock, valued at $28,812,506.46. The disclosure for this sale can be found here. Insiders sold 234,309 shares of company stock worth $2,333,125 over the last three months. Insiders own 19.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Accel Entertainment by 974.6% during the third quarter. Invesco Ltd. now owns 974,356 shares of the company’s stock worth $10,669,000 after buying an additional 883,688 shares during the last quarter. Mill Road Capital Management LLC grew its stake in shares of Accel Entertainment by 282.9% during the fourth quarter. Mill Road Capital Management LLC now owns 300,482 shares of the company’s stock worth $3,086,000 after buying an additional 222,005 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Accel Entertainment by 7.3% during the third quarter. Vanguard Group Inc. now owns 3,101,745 shares of the company’s stock worth $33,964,000 after buying an additional 210,862 shares during the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of Accel Entertainment during the fourth quarter worth $514,000. Finally, Quest Partners LLC acquired a new position in shares of Accel Entertainment during the fourth quarter worth $501,000. 55.39% of the stock is owned by institutional investors.

Accel Entertainment Price Performance

NYSE:ACEL traded down $0.34 during mid-day trading on Monday, reaching $9.92. The stock had a trading volume of 194,658 shares, compared to its average volume of 277,552. The stock has a 50-day simple moving average of $10.32 and a two-hundred day simple moving average of $10.59. The stock has a market capitalization of $830.76 million, a PE ratio of 19.51 and a beta of 1.44. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.83 and a quick ratio of 2.76. Accel Entertainment has a 12 month low of $9.37 and a 12 month high of $12.05.

Accel Entertainment (NYSE:ACEL) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $301.82 million for the quarter, compared to analysts’ expectations of $297.77 million. Accel Entertainment had a net margin of 3.72% and a return on equity of 36.88%. On average, equities analysts anticipate that Accel Entertainment will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Accel Entertainment from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 9th.

Accel Entertainment Company Profile

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.