Accel Entertainment, Inc. (NYSE:ACEL) Expected to Post Q1 2024 Earnings of $0.23 Per Share

Accel Entertainment, Inc. (NYSE:ACEL) – Stock analysts at Northland Capmk raised their Q1 2024 earnings estimates for shares of Accel Entertainment in a report issued on Tuesday, April 16th. Northland Capmk analyst G. Gibas now anticipates that the company will post earnings of $0.23 per share for the quarter, up from their previous forecast of $0.19. The consensus estimate for Accel Entertainment’s current full-year earnings is $0.73 per share. Northland Capmk also issued estimates for Accel Entertainment’s FY2024 earnings at $0.92 EPS.

Accel Entertainment Stock Up 0.3 %

ACEL traded up $0.03 during mid-day trading on Wednesday, reaching $11.28. 202,361 shares of the stock were exchanged, compared to its average volume of 257,252. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.78 and a current ratio of 2.85. The stock has a market capitalization of $945.26 million, a PE ratio of 21.22 and a beta of 1.40. The company has a 50 day moving average price of $11.14 and a two-hundred day moving average price of $10.57. Accel Entertainment has a 1 year low of $8.28 and a 1 year high of $12.05.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Accel Entertainment had a net margin of 3.90% and a return on equity of 39.62%. The business had revenue of $297.07 million during the quarter, compared to the consensus estimate of $286.32 million.

Hedge Funds Weigh In On Accel Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in ACEL. Advisor Group Holdings Inc. boosted its holdings in shares of Accel Entertainment by 87.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 9,143 shares of the company’s stock worth $111,000 after buying an additional 4,257 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Accel Entertainment in the 1st quarter valued at about $126,000. Bank of New York Mellon Corp raised its stake in Accel Entertainment by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 206,892 shares of the company’s stock valued at $2,520,000 after acquiring an additional 3,679 shares during the period. MetLife Investment Management LLC raised its stake in Accel Entertainment by 53.2% in the 1st quarter. MetLife Investment Management LLC now owns 30,368 shares of the company’s stock valued at $370,000 after acquiring an additional 10,543 shares during the period. Finally, Rhumbline Advisers raised its stake in Accel Entertainment by 9.9% in the 1st quarter. Rhumbline Advisers now owns 50,962 shares of the company’s stock valued at $621,000 after acquiring an additional 4,593 shares during the period. 55.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Accel Entertainment news, insider Derek Harmer sold 10,000 shares of Accel Entertainment stock in a transaction on Friday, March 15th. The shares were sold at an average price of $11.21, for a total transaction of $112,100.00. Following the transaction, the insider now directly owns 187,553 shares of the company’s stock, valued at approximately $2,102,469.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Derek Harmer sold 10,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $11.21, for a total value of $112,100.00. Following the transaction, the insider now directly owns 187,553 shares of the company’s stock, valued at approximately $2,102,469.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David W. Ruttenberg sold 14,292 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $11.01, for a total transaction of $157,354.92. Following the completion of the transaction, the director now directly owns 446,914 shares in the company, valued at $4,920,523.14. The disclosure for this sale can be found here. Insiders have sold 135,999 shares of company stock valued at $1,520,439 in the last three months. 17.90% of the stock is currently owned by insiders.

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.