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

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

Analyst Ratings Changes

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

Insider Buying and Selling at Accel Entertainment

In related news, Director David W. Ruttenberg sold 25,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $12.35, for a total transaction of $308,750.00. Following the sale, the director now directly owns 335,635 shares in the company, valued at approximately $4,145,092.25. The trade was a 6.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.17% of the stock is owned by corporate insiders.

Institutional Trading of Accel Entertainment

A number of hedge funds have recently bought and sold shares of the company. Covestor Ltd grew its position in Accel Entertainment by 32.4% during the fourth quarter. Covestor Ltd now owns 4,294 shares of the company’s stock valued at $46,000 after acquiring an additional 1,051 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of Accel Entertainment during the 4th quarter valued at $51,000. Russell Investments Group Ltd. raised its position in Accel Entertainment by 11,304.3% in the 4th quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company’s stock worth $56,000 after purchasing an additional 5,200 shares during the period. Point72 Asset Management L.P. bought a new stake in Accel Entertainment in the third quarter worth $64,000. Finally, Quantbot Technologies LP purchased a new stake in Accel Entertainment during the third quarter valued at about $78,000. Institutional investors own 55.39% of the company’s stock.

Accel Entertainment Price Performance

ACEL stock traded up $0.23 during mid-day trading on Wednesday, hitting $10.23. 254,882 shares of the stock were exchanged, compared to its average volume of 261,107. The business has a fifty day moving average price of $10.97 and a 200 day moving average price of $11.20. Accel Entertainment has a 12 month low of $9.37 and a 12 month high of $12.96. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.71 and a quick ratio of 2.63. The stock has a market capitalization of $875.29 million, a price-to-earnings ratio of 20.06 and a beta of 1.54.

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.