Northland Capmk Has Strong Outlook for ACEL FY2024 Earnings

Accel Entertainment, Inc. (NYSE:ACEL) – Investment analysts at Northland Capmk increased their FY2024 earnings per share estimates for Accel Entertainment in a report issued on Tuesday, January 21st. Northland Capmk analyst G. Gibas now forecasts that the company will earn $0.86 per share for the year, up from their previous estimate of $0.84. The consensus estimate for Accel Entertainment’s current full-year earnings is $0.79 per share. Northland Capmk also issued estimates for Accel Entertainment’s Q4 2024 earnings at $0.24 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.24 EPS and FY2025 earnings at $0.94 EPS.

Accel Entertainment Stock Performance

Accel Entertainment stock opened at $10.99 on Wednesday. The stock has a 50-day simple moving average of $11.17 and a 200 day simple moving average of $11.19. The stock has a market capitalization of $904.92 million, a price-to-earnings ratio of 21.55 and a beta of 1.46. The company has a quick ratio of 2.63, a current ratio of 2.71 and a debt-to-equity ratio of 2.54. Accel Entertainment has a 12-month low of $9.37 and a 12-month high of $12.96.

Insider Buying and Selling at Accel Entertainment

In other news, insider Derek Harmer sold 10,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.70, for a total transaction of $117,000.00. Following the transaction, the insider now owns 199,413 shares of the company’s stock, valued at $2,333,132.10. This represents a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David W. Ruttenberg sold 70,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $11.73, for a total value of $821,100.00. Following the completion of the transaction, the director now owns 277,455 shares in the company, valued at approximately $3,254,547.15. This represents a 20.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,577 shares of company stock worth $1,891,172. 17.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its stake in shares of Accel Entertainment by 40.7% during the second quarter. Hsbc Holdings PLC now owns 47,204 shares of the company’s stock worth $485,000 after buying an additional 13,663 shares during the last quarter. Sei Investments Co. raised its position in shares of Accel Entertainment by 2.1% during the 2nd quarter. Sei Investments Co. now owns 394,385 shares of the company’s stock valued at $4,046,000 after acquiring an additional 8,138 shares during the last quarter. Quarry LP lifted its stake in shares of Accel Entertainment by 268.4% in the 2nd quarter. Quarry LP now owns 8,642 shares of the company’s stock valued at $89,000 after purchasing an additional 6,296 shares during the period. Greenvale Capital LLP boosted its position in shares of Accel Entertainment by 7.3% in the 2nd quarter. Greenvale Capital LLP now owns 5,848,302 shares of the company’s stock worth $60,004,000 after purchasing an additional 398,302 shares during the last quarter. Finally, Aristides Capital LLC acquired a new stake in shares of Accel Entertainment during the second quarter worth $271,000. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Accel Entertainment Company Profile

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.