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

Accel Entertainment, Inc. (NYSE:ACEL) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,030,000 shares, a growth of 28.8% from the February 28th total of 799,400 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily volume of 313,700 shares, the days-to-cover ratio is currently 3.3 days.

Accel Entertainment Trading Up 2.3 %

Shares of ACEL stock traded up $0.23 during trading hours on Wednesday, reaching $10.23. The company’s stock had a trading volume of 254,882 shares, compared to its average volume of 261,107. The company has a current ratio of 2.71, a quick ratio of 2.63 and a debt-to-equity ratio of 2.54. Accel Entertainment has a one year low of $9.37 and a one year high of $12.96. The stock has a market capitalization of $875.29 million, a P/E ratio of 20.06 and a beta of 1.54. The firm’s fifty day simple moving average is $10.97 and its 200 day simple moving average is $11.20.

Insider Buying and Selling at Accel Entertainment

In related news, Director David W. Ruttenberg sold 25,000 shares of Accel Entertainment stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $12.35, for a total value of $308,750.00. Following the transaction, the director now directly owns 335,635 shares of the company’s stock, valued at $4,145,092.25. The trade was a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 19.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACEL. Charles Schwab Investment Management Inc. increased its position in shares of Accel Entertainment by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 441,937 shares of the company’s stock valued at $5,135,000 after buying an additional 3,151 shares during the period. Quantbot Technologies LP bought a new stake in Accel Entertainment during the 3rd quarter valued at approximately $78,000. Verition Fund Management LLC raised its position in shares of Accel Entertainment by 43.3% in the 3rd quarter. Verition Fund Management LLC now owns 22,618 shares of the company’s stock worth $263,000 after acquiring an additional 6,830 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Accel Entertainment during the third quarter valued at $64,000. Finally, Quarry LP boosted its stake in Accel Entertainment by 53.5% during the third quarter. Quarry LP now owns 13,265 shares of the company’s stock worth $154,000 after acquiring an additional 4,623 shares in the last quarter. 55.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Macquarie boosted their price objective on shares of Accel Entertainment from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, February 28th.

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.