Accel Entertainment, Inc. (NYSE:ACEL) Sees Significant Drop in Short Interest

Accel Entertainment, Inc. (NYSE:ACEL) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 893,600 shares, a drop of 8.9% from the October 31st total of 980,900 shares. Based on an average daily volume of 198,900 shares, the short-interest ratio is presently 4.5 days. Currently, 1.8% of the shares of the stock are sold short.

Insider Buying and Selling at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.68, for a total value of $292,000.00. Following the transaction, the director now directly owns 398,135 shares of the company’s stock, valued at approximately $4,650,216.80. This trade represents a 5.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Derek Harmer sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.64, for a total transaction of $116,400.00. Following the completion of the transaction, the insider now directly owns 184,626 shares in the company, valued at approximately $2,149,046.64. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 166,551 shares of company stock valued at $1,946,951 over the last ninety days. Corporate insiders own 19.17% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of ACEL. Point72 Asset Management L.P. purchased a new position in Accel Entertainment during the third quarter worth about $64,000. Quantbot Technologies LP purchased a new position in Accel Entertainment during the third quarter worth about $78,000. Quarry LP raised its stake in Accel Entertainment by 268.4% during the second quarter. Quarry LP now owns 8,642 shares of the company’s stock worth $89,000 after purchasing an additional 6,296 shares during the period. Creative Planning acquired a new stake in shares of Accel Entertainment during the third quarter valued at about $144,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Accel Entertainment during the third quarter valued at about $146,000. 55.39% of the stock is owned by hedge funds and other institutional investors.

Accel Entertainment Price Performance

Shares of NYSE:ACEL traded up $0.15 during midday trading on Monday, hitting $11.71. The company’s stock had a trading volume of 131,897 shares, compared to its average volume of 241,004. The business’s 50 day simple moving average is $11.48 and its 200 day simple moving average is $10.92. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.63 and a current ratio of 2.71. The company has a market cap of $964.24 million, a P/E ratio of 22.86 and a beta of 1.47. Accel Entertainment has a 12-month low of $9.37 and a 12-month high of $12.61.

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.