Accel Entertainment, Inc. (NYSE:ACEL) Sees Large Increase in Short Interest

Accel Entertainment, Inc. (NYSE:ACEL) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,290,000 shares, a growth of 12.2% from the August 31st total of 1,150,000 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average trading volume of 218,000 shares, the short-interest ratio is currently 5.9 days.

Insider Buying and Selling

In related news, CEO Andrew H. Rubenstein sold 7,437 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $12.04, for a total value of $89,541.48. Following the transaction, the chief executive officer now owns 4,180,399 shares in the company, valued at $50,332,003.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Andrew H. Rubenstein sold 25,681 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $12.22, for a total transaction of $313,821.82. Following the completion of the sale, the chief executive officer now owns 4,226,509 shares of the company’s stock, valued at $51,647,939.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew H. Rubenstein sold 7,437 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $12.04, for a total transaction of $89,541.48. Following the sale, the chief executive officer now directly owns 4,180,399 shares of the company’s stock, valued at approximately $50,332,003.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,198 shares of company stock valued at $1,297,845. Insiders own 19.17% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

A number of hedge funds have recently added to or reduced their stakes in the business. Aristides Capital LLC acquired a new position in Accel Entertainment in the second quarter worth $271,000. Greenvale Capital LLP boosted its holdings in shares of Accel Entertainment by 7.3% during the second quarter. Greenvale Capital LLP now owns 5,848,302 shares of the company’s stock valued at $60,004,000 after acquiring an additional 398,302 shares during the period. Quarry LP boosted its holdings in shares of Accel Entertainment by 268.4% during the second quarter. Quarry LP now owns 8,642 shares of the company’s stock valued at $89,000 after acquiring an additional 6,296 shares during the period. Sei Investments Co. boosted its holdings in shares of Accel Entertainment by 2.1% during the second quarter. Sei Investments Co. now owns 394,385 shares of the company’s stock valued at $4,046,000 after acquiring an additional 8,138 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Accel Entertainment by 40.7% during the second quarter. Hsbc Holdings PLC now owns 47,204 shares of the company’s stock valued at $485,000 after acquiring an additional 13,663 shares during the period. Institutional investors and hedge funds own 55.39% of the company’s stock.

Accel Entertainment Stock Down 0.3 %

Shares of ACEL stock traded down $0.04 during mid-day trading on Tuesday, reaching $11.58. 66,650 shares of the company were exchanged, compared to its average volume of 255,500. Accel Entertainment has a fifty-two week low of $9.37 and a fifty-two week high of $12.61. The company has a debt-to-equity ratio of 2.57, a quick ratio of 2.98 and a current ratio of 3.05. The company has a market capitalization of $956.97 million, a P/E ratio of 22.78 and a beta of 1.47. The business’s 50 day simple moving average is $11.29 and its 200 day simple moving average is $10.87.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $309.41 million during the quarter, compared to the consensus estimate of $302.24 million. Accel Entertainment had a net margin of 4.05% and a return on equity of 36.19%. Research analysts predict that Accel Entertainment will post 0.75 earnings per share for the current year.

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.