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

Accel Entertainment, Inc. (NYSE:ACEL) saw a significant increase in short interest during 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. Based on an average trading volume of 313,700 shares, the days-to-cover ratio is presently 3.3 days. Currently, 2.0% of the shares of the stock are sold short.

Insider Transactions at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of Accel Entertainment stock in a transaction dated 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 directly owns 335,635 shares in the company, 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 filing with the SEC, which is available through the SEC website. Insiders own 19.17% of the company’s stock.

Institutional Investors Weigh In On Accel Entertainment

A number of institutional investors have recently bought and sold shares of ACEL. Vanguard Group Inc. boosted its holdings in shares of Accel Entertainment by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 3,465,823 shares of the company’s stock valued at $37,015,000 after purchasing an additional 53,379 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Accel Entertainment by 27.0% during the 4th quarter. Renaissance Technologies LLC now owns 823,917 shares of the company’s stock worth $8,799,000 after purchasing an additional 175,112 shares during the period. Invesco Ltd. increased its position in Accel Entertainment by 13.1% during the 4th quarter. Invesco Ltd. now owns 731,261 shares of the company’s stock worth $7,810,000 after purchasing an additional 84,891 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Accel Entertainment by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 690,173 shares of the company’s stock worth $7,370,000 after purchasing an additional 23,745 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Accel Entertainment by 11.1% in the fourth quarter. Northern Trust Corp now owns 488,463 shares of the company’s stock valued at $5,217,000 after buying an additional 48,639 shares during the period. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

Accel Entertainment Trading Up 0.6 %

ACEL traded up $0.06 during midday trading on Tuesday, hitting $9.98. The company’s stock had a trading volume of 305,081 shares, compared to its average volume of 261,131. Accel Entertainment has a 52-week low of $9.37 and a 52-week high of $12.96. The firm has a 50-day moving average price of $10.97 and a two-hundred day moving average price of $11.20. The company has a current ratio of 2.71, a quick ratio of 2.63 and a debt-to-equity ratio of 2.54. The firm has a market cap of $853.47 million, a P/E ratio of 19.56 and a beta of 1.54.

Wall Street Analyst Weigh In

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

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.