Accel Entertainment, Inc. (NYSE:ACEL) Short Interest Up 12.1% in June

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

Insider Activity at Accel Entertainment

In related news, insider Derek Harmer sold 5,000 shares of Accel Entertainment stock in a transaction dated Thursday, June 20th. The stock was 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 owns 187,804 shares of the company’s stock, valued at approximately $1,878,040. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related 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 value of $50,000.00. Following the completion of the transaction, the insider now directly owns 187,804 shares of the company’s stock, valued at approximately $1,878,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gordon Rubenstein sold 175,000 shares of Accel Entertainment stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $9.76, for a total transaction of $1,708,000.00. Following the completion of the transaction, the director now owns 1,269,235 shares of the company’s stock, valued at $12,387,733.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 234,309 shares of company stock worth $2,333,125. Insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd increased its stake in Accel Entertainment by 31,840.0% in the first quarter. Covestor Ltd now owns 3,194 shares of the company’s stock valued at $38,000 after acquiring an additional 3,184 shares during the last quarter. Cape Investment Advisory Inc. purchased a new position in shares of Accel Entertainment during the 4th quarter valued at about $50,000. Allspring Global Investments Holdings LLC bought a new stake in Accel Entertainment in the 1st quarter worth approximately $52,000. Semanteon Capital Management LP purchased a new stake in Accel Entertainment in the fourth quarter worth approximately $104,000. Finally, SG Americas Securities LLC bought a new position in Accel Entertainment during the fourth quarter valued at approximately $141,000. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Accel Entertainment Stock Up 0.8 %

Shares of NYSE:ACEL opened at $10.00 on Wednesday. The firm has a fifty day moving average price of $10.25 and a two-hundred day moving average price of $10.58. The company has a market cap of $837.50 million, a price-to-earnings ratio of 19.61 and a beta of 1.47. 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 one year low of $9.37 and a one year high of $12.05.

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

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.