Northland Capmk Issues Optimistic Forecast for ACEL Earnings

Accel Entertainment, Inc. (NYSE:ACEL) – Analysts at Northland Capmk raised their FY2024 earnings estimates for Accel Entertainment in a research report issued to clients and investors on Tuesday, January 21st. Northland Capmk analyst G. Gibas now expects that the company will post earnings per share of $0.86 for the year, up from their prior forecast 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 Trading Up 2.2 %

Shares of ACEL opened at $11.30 on Wednesday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.63 and a current ratio of 2.71. Accel Entertainment has a 52-week low of $9.37 and a 52-week high of $12.96. The firm has a market cap of $930.03 million, a price-to-earnings ratio of 22.15 and a beta of 1.46. The business’s fifty day moving average is $11.16 and its 200-day moving average is $11.20.

Hedge Funds Weigh In On Accel Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake in shares of Accel Entertainment by 34.8% in the fourth quarter. SG Americas Securities LLC now owns 39,525 shares of the company’s stock worth $422,000 after purchasing an additional 10,194 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Accel Entertainment by 1.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 284,309 shares of the company’s stock valued at $3,304,000 after buying an additional 3,355 shares during the last quarter. Hohimer Wealth Management LLC acquired a new stake in shares of Accel Entertainment in the third quarter valued at about $193,000. Barclays PLC raised its position in shares of Accel Entertainment by 34.6% during the third quarter. Barclays PLC now owns 224,241 shares of the company’s stock worth $2,606,000 after acquiring an additional 57,666 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Accel Entertainment in the third quarter worth approximately $146,000. 55.39% of the stock is currently owned by institutional investors and hedge funds.

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 that occurred on Monday, December 16th. The stock was sold at an average price of $11.70, for a total value of $117,000.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David W. Ruttenberg sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $11.73, for a total transaction of $821,100.00. Following the completion of the transaction, the director now owns 277,455 shares of the company’s stock, valued at approximately $3,254,547.15. This trade represents a 20.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,577 shares of company stock worth $1,891,172 over the last 90 days. Insiders own 17.90% 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.