Accel Entertainment, Inc. (NYSE:ACEL) Short Interest Update

Accel Entertainment, Inc. (NYSE:ACEL) saw a significant increase in short interest in 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 days-to-cover ratio is currently 4.5 days. Currently, 2.6% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft upped their price objective 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 %

NYSE:ACEL opened at $10.00 on Wednesday. Accel Entertainment has a 1 year low of $9.37 and a 1 year high of $12.05. The company has a current ratio of 2.83, a quick ratio of 2.76 and a debt-to-equity ratio of 2.53. The stock has a market cap of $837.50 million, a price-to-earnings ratio of 19.61 and a beta of 1.47. The stock has a 50-day moving average price of $10.25 and a two-hundred day moving average price of $10.58.

Accel Entertainment (NYSE:ACEL) last posted its earnings results on Wednesday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Accel Entertainment had a return on equity of 36.88% and a net margin of 3.72%. The firm had revenue of $301.82 million during the quarter, compared to analysts’ expectations of $297.77 million. As a group, equities analysts expect that Accel Entertainment will post 0.73 earnings per share for the current year.

Insiders Place Their Bets

In other Accel Entertainment news, insider Derek Harmer sold 5,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $10.00, for a total value of $50,000.00. Following the transaction, the insider now owns 187,804 shares of the company’s stock, valued at $1,878,040. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Karl Mr. Peterson sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $11.67, for a total transaction of $116,700.00. Following the completion of the sale, the director now owns 2,468,938 shares in the company, valued at $28,812,506.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Derek Harmer sold 5,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $10.00, for a total value of $50,000.00. Following the sale, the insider now owns 187,804 shares of the company’s stock, valued at approximately $1,878,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 234,309 shares of company stock valued at $2,333,125. 17.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners acquired a new position in shares of Accel Entertainment during the first quarter worth about $555,000. Price T Rowe Associates Inc. MD boosted its position in Accel Entertainment by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 117,309 shares of the company’s stock valued at $1,384,000 after purchasing an additional 8,270 shares during the last quarter. Covestor Ltd boosted its position in Accel Entertainment by 31,840.0% during the first quarter. Covestor Ltd now owns 3,194 shares of the company’s stock valued at $38,000 after purchasing an additional 3,184 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Accel Entertainment by 64.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 25,357 shares of the company’s stock valued at $299,000 after purchasing an additional 9,947 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Accel Entertainment during the first quarter valued at approximately $52,000. 55.39% of the stock is owned by institutional investors and hedge funds.

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.