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

Accel Entertainment, Inc. (NYSE:ACEL) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 799,400 shares, a decline of 13.4% from the February 13th total of 922,900 shares. Based on an average daily trading volume, of 313,100 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.6% of the shares of the stock are sold short.

Accel Entertainment Price Performance

Accel Entertainment stock opened at $10.04 on Friday. The company has a market cap of $858.60 million, a price-to-earnings ratio of 19.68 and a beta of 1.54. The firm’s fifty day moving average is $11.06 and its 200 day moving average is $11.27. The company has a quick ratio of 2.63, a current ratio of 2.71 and a debt-to-equity ratio of 2.54. Accel Entertainment has a 52-week low of $9.37 and a 52-week high of $12.96.

Wall Street Analyst Weigh In

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

Insider Transactions at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of the business’s 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 owns 335,635 shares of the company’s stock, valued at approximately $4,145,092.25. The trade was a 6.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.17% of the company’s stock.

Institutional Investors Weigh In On Accel Entertainment

Hedge funds have recently bought and sold shares of the business. Barclays PLC raised its stake in Accel Entertainment by 34.6% during the third quarter. Barclays PLC now owns 224,241 shares of the company’s stock valued at $2,606,000 after purchasing an additional 57,666 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Accel Entertainment by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 284,309 shares of the company’s stock valued at $3,304,000 after purchasing an additional 3,355 shares in the last quarter. SG Americas Securities LLC raised its stake in Accel Entertainment by 34.8% during the fourth quarter. SG Americas Securities LLC now owns 39,525 shares of the company’s stock valued at $422,000 after purchasing an additional 10,194 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Accel Entertainment by 20.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 185,994 shares of the company’s stock valued at $2,161,000 after purchasing an additional 31,502 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in Accel Entertainment during the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 55.39% of the company’s stock.

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.