Globeflex Capital L P Makes New Investment in Accel Entertainment, Inc. $ACEL

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

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Accel Entertainment by 13.1% in the 1st quarter. AQR Capital Management LLC now owns 160,415 shares of the company’s stock worth $1,591,000 after acquiring an additional 18,643 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Accel Entertainment during the first quarter valued at about $110,000. Millennium Management LLC boosted its position in Accel Entertainment by 252.5% during the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after purchasing an additional 359,948 shares in the last quarter. Jane Street Group LLC grew its stake in Accel Entertainment by 157.5% in the first quarter. Jane Street Group LLC now owns 37,108 shares of the company’s stock valued at $368,000 after purchasing an additional 22,695 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Accel Entertainment by 10.2% in the second quarter. Rhumbline Advisers now owns 81,054 shares of the company’s stock valued at $954,000 after purchasing an additional 7,501 shares during the last quarter. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Accel Entertainment Trading Up 0.1%

Accel Entertainment stock opened at $12.07 on Monday. The stock has a 50-day moving average of $12.45 and a two-hundred day moving average of $11.89. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.40 and a current ratio of 2.47. Accel Entertainment, Inc. has a one year low of $9.55 and a one year high of $14.00. The stock has a market cap of $979.96 million, a PE ratio of 18.02 and a beta of 1.02.

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

Insider Buying and Selling

In other Accel Entertainment news, insider Derek Harmer sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction of $260,000.00. Following the sale, the insider owned 187,827 shares of the company’s stock, valued at approximately $2,441,751. The trade was a 9.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 that occurred on Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction of $325,000.00. Following the transaction, the chief operating officer owned 241,464 shares in the company, valued at $3,139,032. The trade was a 9.38% decrease in their position. 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 owned by company insiders.

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.