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

Accel Entertainment, Inc. (NYSE:ACEL - Get Free Report) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 799,400 shares, a drop 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. Approximately 1.6% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, Director David W. Ruttenberg sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 approximately $4,145,092.25. This represents a 6.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.17% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd boosted its position in shares of Accel Entertainment by 32.4% during the 4th quarter. Covestor Ltd now owns 4,294 shares of the company's stock valued at $46,000 after purchasing an additional 1,051 shares in the last quarter. New York State Teachers Retirement System bought a new position in Accel Entertainment in the 4th quarter valued at about $51,000. Russell Investments Group Ltd. boosted its position 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 valued at $56,000 after buying an additional 5,200 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Accel Entertainment in the third quarter valued at about $64,000. Finally, Quantbot Technologies LP bought a new position in shares of Accel Entertainment during the 3rd quarter worth approximately $78,000. 55.39% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

Accel Entertainment Trading Down 0.8 %

NYSE ACEL traded down $0.09 during trading hours on Friday, reaching $9.95. The company's stock had a trading volume of 668,852 shares, compared to its average volume of 252,525. The stock has a market cap of $850.90 million, a P/E ratio of 19.50 and a beta of 1.54. The firm has a fifty day simple moving average of $11.05 and a 200-day simple moving average of $11.26. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.71 and a quick ratio of 2.63. Accel Entertainment has a 52 week low of $9.37 and a 52 week high of $12.96.

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.