Northland Capmk Has Strong Forecast for ACEL FY2024 Earnings

Accel Entertainment, Inc. (NYSE:ACEL) – Stock analysts at Northland Capmk upped their FY2024 earnings per share estimates for Accel Entertainment in a research note issued to investors on Tuesday, January 21st. Northland Capmk analyst G. Gibas now forecasts that the company will post earnings of $0.86 per share for the year, up from their previous forecast of $0.84. The consensus estimate for Accel Entertainment’s current full-year earnings is $0.80 per share. Northland Capmk also issued estimates for Accel Entertainment’s Q4 2024 earnings at $0.24 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.24 EPS and FY2025 earnings at $0.94 EPS.

Accel Entertainment Price Performance

Shares of Accel Entertainment stock opened at $11.29 on Wednesday. The company has a quick ratio of 2.63, a current ratio of 2.71 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $929.87 million, a price-to-earnings ratio of 22.14 and a beta of 1.46. Accel Entertainment has a 52 week low of $9.37 and a 52 week high of $12.96. The stock’s 50-day simple moving average is $11.15 and its 200-day simple moving average is $11.20.

Insiders Place Their Bets

In related news, insider Derek Harmer sold 10,000 shares of Accel Entertainment stock in a transaction on Monday, December 16th. The shares were sold at an average price of $11.70, for a total value of $117,000.00. Following the sale, the insider now owns 199,413 shares of the company’s stock, valued at approximately $2,333,132.10. This trade represents a 4.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $10.61, for a total transaction of $265,250.00. Following the transaction, the director now directly owns 348,135 shares in the company, valued at approximately $3,693,712.35. The trade was a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,577 shares of company stock valued at $1,891,172. Insiders own 19.17% of the company’s stock.

Institutional Trading of Accel Entertainment

Institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in shares of Accel Entertainment in the 3rd quarter valued at $64,000. Quantbot Technologies LP purchased a new position in Accel Entertainment during the 3rd quarter worth approximately $78,000. Quarry LP raised its holdings in shares of Accel Entertainment by 268.4% in the second quarter. Quarry LP now owns 8,642 shares of the company’s stock valued at $89,000 after buying an additional 6,296 shares during the last quarter. R Squared Ltd acquired a new stake in Accel Entertainment during the 4th quarter worth approximately $91,000. Finally, Creative Planning acquired a new position in shares of Accel Entertainment in the third quarter valued at approximately $144,000. Hedge funds and other institutional investors own 55.39% of the company’s stock.

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.