Key Points
- CEO Mark Phelan sold 25,000 shares for $300,000 at $12 per share under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 10.35% to 216,464 shares.
- Accel reported quarterly EPS of $0.25 and revenue of $363.56 million, beating analyst estimates of $0.18 and $358.62 million, respectively.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $14.25; the stock was reported up 12.9%.
Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) CEO Mark Phelan sold 25,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $12.00, for a total transaction of $300,000.00. Following the transaction, the chief executive officer directly owned 216,464 shares of the company's stock, valued at $2,597,568. This represents a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Accel Entertainment Trading Up 12.9%
NYSE:ACEL opened at $13.39 on Thursday. Accel Entertainment, Inc. has a 1 year low of $9.55 and a 1 year high of $14.00. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.40 and a current ratio of 2.47. The stock has a fifty day moving average price of $11.31 and a two-hundred day moving average price of $11.71. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 17.63 and a beta of 1.09.
Accel Entertainment (NYSE:ACEL - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.07. The company had revenue of $363.56 million during the quarter, compared to the consensus estimate of $358.62 million. Accel Entertainment had a net margin of 4.49% and a return on equity of 23.23%. As a group, sell-side analysts anticipate that Accel Entertainment, Inc. will post 0.69 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
ACEL has been the subject of a number of recent research reports. National Bank Financial set a $15.00 price target on shares of Accel Entertainment in a report on Wednesday, August 5th. Truist Financial lowered their target price on shares of Accel Entertainment from $14.00 to $13.00 and set a "hold" rating for the company in a research note on Tuesday, October 20th. Citizens Jmp lifted their target price on shares of Accel Entertainment from $14.00 to $15.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 5th. Citigroup reiterated a "market outperform" rating on shares of Accel Entertainment in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Accel Entertainment from a "hold" rating to a "buy" rating in a research report on Saturday, October 24th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Accel Entertainment presently has a consensus rating of "Moderate Buy" and an average price target of $14.25.
Check Out Our Latest Report on Accel Entertainment
More Accel Entertainment News
Here are the key news stories impacting Accel Entertainment this week:
- Positive Sentiment: Accel reported record third-quarter revenue of about $363.6 million, up year over year and above the roughly $358.6 million consensus estimate. Earnings were $0.25 per share, topping estimates of about $0.18; net income rose 55% and adjusted EBITDA increased 12% year over year. Accel Entertainment reports third-quarter results
- Positive Sentiment: Management outlined plans to roll out gaming locations in Chicago at a pace of 100 to 200 annually. The company also cited a $20 million to $25 million annualized EBITDA target for Fairmount, offering potential avenues for future growth. Accel outlines Chicago rollout and Fairmount target
Hedge Funds Weigh In On Accel Entertainment
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its stake in Accel Entertainment by 63.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company's stock worth $11,814,000 after purchasing an additional 421,047 shares during the period. Globeflex Capital L P acquired a new stake in Accel Entertainment during the second quarter worth about $3,894,000. Bank of New York Mellon Corp acquired a new stake in Accel Entertainment during the second quarter worth about $2,643,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Accel Entertainment by 249.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company's stock worth $1,521,000 after purchasing an additional 99,521 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Accel Entertainment by 43.0% in the 1st quarter. First Trust Advisors LP now owns 203,057 shares of the company's stock worth $2,215,000 after purchasing an additional 61,098 shares during the period. Institutional investors and hedge funds own 55.39% of the company's stock.
Accel Entertainment Company Profile
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Get Free Report)
Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services and equipment to non-casino businesses. The company places and operates gaming terminals in locations such as bars, restaurants, taverns, convenience stores, truck stops, and fraternal or veterans organizations, allowing these establishments to offer legal gaming without operating a traditional casino.
Accel manages the installation, maintenance, monitoring, and regulatory compliance of its gaming equipment.
Further Reading

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