Accel Entertainment (NYSE:ACEL) CEO Mark Phelan Sells 25,000 Shares of Company Stock

Accel Entertainment, Inc. (NYSE:ACEL) CEO Mark Phelan sold 25,000 shares of Accel Entertainment stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $12.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief executive officer owned 216,464 shares of the company’s stock, valued at $2,597,568. This represents a 10.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Accel Entertainment Trading Up 12.9%

NYSE ACEL opened at $13.39 on Thursday. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 1.91. Accel Entertainment, Inc. has a 52 week low of $9.55 and a 52 week high of $14.00. The stock has a market capitalization of $1.09 billion, a PE ratio of 17.63 and a beta of 1.09. The firm has a 50 day moving average of $11.31 and a two-hundred day moving average of $11.71.

Accel Entertainment (NYSE:ACEL) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. Accel Entertainment had a net margin of 4.49% and a return on equity of 23.23%. The business had revenue of $363.56 million for the quarter, compared to analyst estimates of $358.62 million. As a group, research analysts expect that Accel Entertainment, Inc. will post 0.69 EPS for the current fiscal year.

Accel Entertainment News Summary

Here are the key news stories impacting Accel Entertainment this week:

• Positive Sentiment: Accel reported record third-quarter revenue of about $363.6 million, up year over year and above the roughly $358.6 million consensus estimate. Earnings were $0.25 per share, topping estimates of about $0.18; net income rose 55% and adjusted EBITDA increased 12% year over year. Accel Entertainment reports third-quarter results
• Positive Sentiment: Management outlined plans to roll out gaming locations in Chicago at a pace of 100 to 200 annually. The company also cited a $20 million to $25 million annualized EBITDA target for Fairmount, offering potential avenues for future growth. Accel outlines Chicago rollout and Fairmount target

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. National Bank Financial set a $15.00 price target on Accel Entertainment in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Accel Entertainment from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Truist Financial reduced their price objective on shares of Accel Entertainment from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. Wells Fargo & Company began coverage on shares of Accel Entertainment in a research report on Friday, August 21st. They set an “equal weight” rating and a $14.00 price objective for the company. Finally, Citizens Jmp upped their target price 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. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of Accel Entertainment by 63.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock worth $11,814,000 after buying an additional 421,047 shares during the period. Globeflex Capital L P acquired a new position in Accel Entertainment in the 2nd quarter valued at about $3,894,000. Bank of New York Mellon Corp acquired a new position in Accel Entertainment in the 2nd quarter valued at about $2,643,000. Y Intercept Hong Kong Ltd raised its stake in Accel Entertainment by 249.3% during the 1st 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. Finally, First Trust Advisors LP raised its stake in Accel Entertainment by 43.0% during the 1st quarter. First Trust Advisors LP now owns 203,057 shares of the company’s stock valued at $2,215,000 after acquiring an additional 61,098 shares during the last quarter. Hedge funds and other institutional investors own 55.39% of the company’s stock.

About Accel Entertainment

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services and equipment to non-casino businesses. The company places and operates gaming terminals in locations such as bars, restaurants, taverns, convenience stores, truck stops, and fraternal or veterans organizations, allowing these establishments to offer legal gaming without operating a traditional casino.

Accel manages the installation, maintenance, monitoring, and regulatory compliance of its gaming equipment.