Short Interest in Accel Entertainment, Inc. (NYSE:ACEL) Drops By 13.4%

Accel Entertainment, Inc. (NYSE:ACEL) 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 daily volume of 313,100 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.6% of the company’s stock are short sold.

Insider Buying and Selling at Accel Entertainment

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $12.35, for a total value of $308,750.00. Following the completion of the sale, the director now owns 335,635 shares in the company, valued at $4,145,092.25. This trade represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 19.17% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

Large investors have recently modified their holdings of the business. Quest Partners LLC increased its holdings in Accel Entertainment by 99.2% in the third quarter. Quest Partners LLC now owns 24,916 shares of the company’s stock valued at $290,000 after purchasing an additional 12,405 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Accel Entertainment by 20.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 185,994 shares of the company’s stock valued at $2,161,000 after buying an additional 31,502 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Accel Entertainment by 0.7% in the third 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. Algert Global LLC raised its position in shares of Accel Entertainment by 12.3% during the third quarter. Algert Global LLC now owns 177,640 shares of the company’s stock worth $2,064,000 after acquiring an additional 19,400 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Accel Entertainment during the 3rd quarter valued at approximately $78,000. Institutional investors own 55.39% of the company’s stock.

Wall Street Analyst Weigh In

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

Accel Entertainment Trading Up 1.3 %

Accel Entertainment stock traded up $0.13 during trading hours on Wednesday, hitting $10.04. The stock had a trading volume of 86,235 shares, compared to its average volume of 250,205. The business’s 50 day simple moving average is $11.08 and its 200-day simple moving average is $11.29. Accel Entertainment has a one year low of $9.37 and a one year high of $12.96. The stock has a market cap of $859.03 million, a price-to-earnings ratio of 19.69 and a beta of 1.54. The company has a quick ratio of 2.63, a current ratio of 2.71 and a debt-to-equity ratio of 2.54.

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.