Accel Entertainment, Inc. (NYSE:ACEL) Short Interest Down 13.4% in February

Accel Entertainment, Inc. (NYSE:ACEL) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 799,400 shares, a decline 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 presently 2.6 days. Currently, 1.6% of the company’s shares are short sold.

Accel Entertainment Stock Performance

NYSE:ACEL traded up $0.13 during trading hours on Wednesday, reaching $10.04. The stock had a trading volume of 86,235 shares, compared to its average volume of 250,205. Accel Entertainment has a 12-month low of $9.37 and a 12-month high of $12.96. 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 stock has a market cap of $859.03 million, a P/E ratio of 19.69 and a beta of 1.54. The stock has a 50 day simple moving average of $11.08 and a 200 day simple moving average of $11.29.

Analyst Ratings Changes

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

Insider Activity

In other news, Director David W. Ruttenberg sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Accel Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in shares of Accel Entertainment by 32.4% during the 4th quarter. Covestor Ltd now owns 4,294 shares of the company’s stock valued at $46,000 after buying an additional 1,051 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Accel Entertainment during the fourth quarter worth approximately $51,000. Russell Investments Group Ltd. boosted its stake in shares of Accel Entertainment by 11,304.3% in the 4th quarter. Russell Investments Group Ltd. now owns 5,246 shares of the company’s stock valued at $56,000 after purchasing an additional 5,200 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Accel Entertainment during the 3rd quarter valued at $64,000. Finally, Quantbot Technologies LP bought a new stake in Accel Entertainment in the third quarter worth $78,000. Institutional investors own 55.39% of the company’s stock.

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.