Accel Entertainment, Inc. (NYSE:ACEL) Short Interest Up 28.8% in March

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,030,000 shares, a growth of 28.8% from the February 28th total of 799,400 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average trading volume of 313,700 shares, the short-interest ratio is currently 3.3 days.

Wall Street Analyst Weigh In

Separately, Macquarie upped their target price on Accel Entertainment from $15.00 to $16.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th.

Insider Transactions at Accel Entertainment

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of Accel Entertainment stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $12.35, for a total transaction of $308,750.00. Following the completion of the sale, the director now owns 335,635 shares of the company's stock, valued at $4,145,092.25. The trade was a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 19.17% of the company's stock.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Accel Entertainment by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 441,937 shares of the company's stock valued at $5,135,000 after buying an additional 3,151 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Accel Entertainment during the third quarter worth about $78,000. Verition Fund Management LLC increased its holdings in Accel Entertainment by 43.3% during the 3rd quarter. Verition Fund Management LLC now owns 22,618 shares of the company's stock valued at $263,000 after purchasing an additional 6,830 shares during the period. Point72 Asset Management L.P. bought a new position in Accel Entertainment during the 3rd quarter valued at approximately $64,000. Finally, Quarry LP lifted its holdings in Accel Entertainment by 53.5% in the 3rd quarter. Quarry LP now owns 13,265 shares of the company's stock worth $154,000 after buying an additional 4,623 shares during the period. Institutional investors own 55.39% of the company's stock.

Accel Entertainment Trading Down 5.1 %

Shares of NYSE:ACEL traded down $0.50 on Friday, reaching $9.20. 260,879 shares of the company traded hands, compared to its average volume of 324,055. The stock has a market capitalization of $786.73 million, a P/E ratio of 17.92 and a beta of 1.35. The business's 50-day simple moving average is $10.92 and its 200 day simple moving average is $11.18. The company has a current ratio of 2.71, a quick ratio of 2.63 and a debt-to-equity ratio of 2.54. Accel Entertainment has a 52 week low of $9.02 and a 52 week high of $12.96.

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.