Accel Entertainment, Inc. (NYSE:ACEL) Shares Sold by HUB Investment Partners LLC

HUB Investment Partners LLC lessened its stake in shares of Accel Entertainment, Inc. (NYSE:ACEL) by 5.8% in the fourth quarter, HoldingsChannel reports. The firm owned 713,699 shares of the company’s stock after selling 44,000 shares during the quarter. HUB Investment Partners LLC’s holdings in Accel Entertainment were worth $7,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Magnetar Financial LLC increased its position in Accel Entertainment by 25.7% during the 4th quarter. Magnetar Financial LLC now owns 18,385 shares of the company’s stock worth $196,000 after purchasing an additional 3,759 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Accel Entertainment by 103.7% in the 4th quarter. Teacher Retirement System of Texas now owns 57,550 shares of the company’s stock valued at $615,000 after buying an additional 29,292 shares during the period. Intech Investment Management LLC purchased a new stake in Accel Entertainment in the 4th quarter valued at about $242,000. Globeflex Capital L P grew its holdings in Accel Entertainment by 5.1% in the 4th quarter. Globeflex Capital L P now owns 263,183 shares of the company’s stock valued at $2,811,000 after buying an additional 12,789 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Accel Entertainment by 2.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 190,250 shares of the company’s stock valued at $2,032,000 after buying an additional 4,256 shares during the period. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Accel Entertainment Stock Performance

NYSE ACEL opened at $10.10 on Thursday. The firm has a market capitalization of $863.74 million, a P/E ratio of 19.79 and a beta of 1.54. Accel Entertainment, Inc. has a 1-year low of $9.37 and a 1-year high of $12.96. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.71 and a quick ratio of 2.63. The business’s 50-day simple moving average is $11.07 and its 200-day simple moving average is $11.28.

Wall Street Analyst Weigh In

Separately, Macquarie lifted 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 related news, Director David W. Ruttenberg sold 25,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 335,635 shares in the company, valued at $4,145,092.25. This represents a 6.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 19.17% of the company’s stock.

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.