Accel Entertainment (NYSE:ACEL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Accel Entertainment (NYSE:ACEL) from a buy rating to a strong-buy rating in a research report sent to investors on Monday.

Separately, Zacks Research cut Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.50.

Accel Entertainment Trading Down 1.2%

NYSE:ACEL opened at $10.94 on Monday. The stock has a 50-day simple moving average of $11.49 and a 200-day simple moving average of $11.30. The stock has a market cap of $921.71 million, a P/E ratio of 27.34 and a beta of 1.09. Accel Entertainment has a 1 year low of $9.02 and a 1 year high of $13.27. The company has a debt-to-equity ratio of 2.15, a quick ratio of 2.56 and a current ratio of 2.64.

Insider Buying and Selling

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $11.11, for a total transaction of $277,750.00. Following the completion of the sale, the director directly owned 248,135 shares of the company’s stock, valued at $2,756,779.85. This represents a 9.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 75,000 shares of company stock worth $857,500. 18.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Accel Entertainment

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Accel Entertainment by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,506,347 shares of the company’s stock worth $34,783,000 after buying an additional 40,524 shares in the last quarter. Hill Path Capital LP purchased a new position in shares of Accel Entertainment during the 2nd quarter worth approximately $32,828,000. Geode Capital Management LLC raised its stake in shares of Accel Entertainment by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,266,697 shares of the company’s stock worth $14,912,000 after buying an additional 26,419 shares in the last quarter. Invesco Ltd. raised its stake in shares of Accel Entertainment by 24.7% during the 1st quarter. Invesco Ltd. now owns 912,129 shares of the company’s stock worth $9,048,000 after buying an additional 180,868 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Accel Entertainment by 252.5% during the 1st quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock worth $4,985,000 after buying an additional 359,948 shares in the last quarter. 55.39% of the stock is owned by hedge funds and other institutional investors.

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.