Accel Entertainment (NYSE:ACEL) Stock Price Down 10.6% – Here’s What Happened

Accel Entertainment, Inc. (NYSE:ACEL)’s stock price was down 10.6% during mid-day trading on Friday . The company traded as low as $10.65 and last traded at $10.46. Approximately 102,250 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 280,819 shares. The stock had previously closed at $11.71.

Wall Street Analyst Weigh In

Separately, Macquarie upped their price target on Accel Entertainment from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday.

Accel Entertainment Trading Down 7.8 %

The firm has a market cap of $888.89 million, a PE ratio of 21.17 and a beta of 1.46. The company’s fifty day moving average price is $11.21 and its two-hundred day moving average price is $11.40. The company has a quick ratio of 2.63, a current ratio of 2.71 and a debt-to-equity ratio of 2.54.

Insider Buying and Selling at Accel Entertainment

In other Accel Entertainment news, insider Derek Harmer sold 10,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.70, for a total value of $117,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark T. Phelan sold 9,577 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $11.65, for a total transaction of $111,572.05. Following the transaction, the insider now directly owns 189,788 shares in the company, valued at approximately $2,211,030.20. This trade represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,577 shares of company stock valued at $1,090,072. 19.17% of the stock is owned by corporate insiders.

Institutional Trading of Accel Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in ACEL. Covestor Ltd increased its holdings in Accel Entertainment by 32.4% in the fourth quarter. Covestor Ltd now owns 4,294 shares of the company’s stock valued at $46,000 after buying an additional 1,051 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Accel Entertainment in the 4th quarter worth approximately $51,000. Russell Investments Group Ltd. grew its holdings in shares of Accel Entertainment by 11,304.3% in the 4th quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company’s stock worth $56,000 after acquiring an additional 5,200 shares during the period. Point72 Asset Management L.P. purchased a new position in Accel Entertainment in the 3rd quarter valued at approximately $64,000. Finally, Quantbot Technologies LP acquired a new position in Accel Entertainment during the third quarter worth $78,000. Institutional investors and hedge funds 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.