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

Accel Entertainment, Inc. (NYSE:ACEL – Get Rating) saw a significant drop in short interest in October. As of October 31, short interest was recorded for a total of 2,180,000 shares, down 6.4% compared to the October 15 total of 2,330,000 shares. Based on an average daily volume of 276,100 shares, the short interest ratio is currently 7.9 days. Currently, 3.6% of the company’s shares are sold short.

Accel Entertainment Institutional Trading

A number of large investors have recently upped or downsized their stakes in the stock. Great West Life Assurance Co. Can purchased a new position in Accel Entertainment stock in the third quarter for approximately $25,000. In the third quarter, UBS Group AG increased its stake in Accel Entertainment by 28,100.0%. UBS Group AG now owns 3,666 shares of the company worth $29,000 after buying an additional 3,653 shares in the recent quarter. Tower Research Capital LLC TRC increased its stake in Accel Entertainment stock by 111.9% in the third quarter. Tower Research Capital LLC TRC now owns 3,907 shares of the company worth $31,000 after buying another 2,063 shares in the recent quarter. In the second quarter, the New York State Teachers Retirement System increased its stake in Accel Entertainment stock by 2,400.0%. The New York State Teachers Retirement System now owns 5,000 shares of the company valued at $53,000 after buying another 4,800 shares in the recent quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Accel Entertainment stock in the first quarter for approximately $58,000. Hedge funds and other institutional investors own 46.80% of the company’s shares.

Accel Entertainment stock performance

NYSE ACEL opened Thursday at $8.80. Accel Entertainment has a 52-week low of $7.65 and a 52-week high of $14.04. The company has a 50-day simple moving average of $8.84 and a 200-day simple moving average of $10.06. The company has a debt-to-equity ratio of 2.75, a quick ratio of 2.99, and a current ratio of 3.06. The company has a market cap of $810.04 million, a PE of 12.05, and a beta of 1.22.

Accel Entertainment (NYSE:ACEL – Get Rating) last released its quarterly earnings data on Tuesday, Nov. 8. The company reported earnings per share (EPS) of $0.21 for the quarter, missing analyst consensus estimates of $0.23 ($0.02). Accel Entertainment reported a return on equity of 43.85% and a net margin of 7.64%. The company reported revenue of $266.97 million for the quarter, compared to analyst expectations of $269.83 million. On average, research analysts expect Accel Entertainment to post 0.86 EPS for the current year.

The Wall Street analyst intervenes

Separately, Macquarie lowered its price target on Accel Entertainment’s stock from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report Wednesday, Nov. 9.

Accel Entertainment Company Profile

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Accel Entertainment, Inc, together with its subsidiaries, operates as a distributed gaming operator in the United States. It deals with the installation, maintenance and operation of gaming terminals; redemption devices that dispense winnings and contain automatic teller machine (ATM) functionality; and other entertainment devices in non-casino licensed locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.

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