Short Interest in Accel Entertainment, Inc. (NYSE:ACEL) Drops By 13.4%

Accel Entertainment, Inc. (NYSE:ACEL) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 799,400 shares, a decrease of 13.4% from the February 13th total of 922,900 shares. Based on an average trading volume of 313,100 shares, the short-interest ratio is currently 2.6 days. Currently, 1.6% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, Director David W. Ruttenberg sold 25,000 shares of the firm’s stock in a transaction dated 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 owns 335,635 shares of the company’s stock, valued at approximately $4,145,092.25. This trade represents a 6.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 19.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd raised its stake in Accel Entertainment by 32.4% during the fourth quarter. Covestor Ltd now owns 4,294 shares of the company’s stock worth $46,000 after acquiring an additional 1,051 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Accel Entertainment during the fourth quarter worth about $51,000. Russell Investments Group Ltd. grew its holdings in shares of Accel Entertainment by 11,304.3% during the fourth quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company’s stock worth $56,000 after purchasing an additional 5,200 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Accel Entertainment during the third quarter worth about $64,000. Finally, Quantbot Technologies LP bought a new stake in shares of Accel Entertainment during the third quarter worth about $78,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

Accel Entertainment Stock Performance

Shares of ACEL traded up $0.02 during midday trading on Thursday, reaching $10.11. 10,689 shares of the stock were exchanged, compared to its average volume of 250,035. The company has a market cap of $865.02 million, a P/E ratio of 19.90 and a beta of 1.54. The stock’s 50 day simple moving average is $11.07 and its 200 day simple moving average is $11.28. Accel Entertainment has a twelve month low of $9.37 and a twelve month high of $12.96. The company has a quick ratio of 2.63, a current ratio of 2.71 and a debt-to-equity ratio of 2.54.

Wall Street Analysts Forecast Growth

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