Occudo Quantitative Strategies LP Takes Position in Accel Entertainment, Inc. (NYSE:ACEL)

Occudo Quantitative Strategies LP bought a new stake in Accel Entertainment, Inc. (NYSE:ACEL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,572 shares of the company’s stock, valued at approximately $134,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ACEL. Orvieto Partners L.P. purchased a new stake in shares of Accel Entertainment in the fourth quarter valued at about $3,951,000. JPMorgan Chase & Co. raised its holdings in shares of Accel Entertainment by 70.0% in the fourth quarter. JPMorgan Chase & Co. now owns 483,401 shares of the company’s stock valued at $5,163,000 after buying an additional 199,092 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Accel Entertainment by 27.0% in the fourth quarter. Renaissance Technologies LLC now owns 823,917 shares of the company’s stock valued at $8,799,000 after buying an additional 175,112 shares during the last quarter. Financial Counselors Inc. purchased a new stake in shares of Accel Entertainment in the fourth quarter valued at about $1,866,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Accel Entertainment by 300.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 219,256 shares of the company’s stock valued at $2,342,000 after buying an additional 164,560 shares during the last quarter. 55.39% of the stock is owned by hedge funds and other institutional investors.

Accel Entertainment Trading Down 0.7%

NYSE ACEL opened at $11.72 on Friday. The stock has a market capitalization of $992.25 million, a P/E ratio of 22.99 and a beta of 1.22. Accel Entertainment, Inc. has a 52-week low of $9.02 and a 52-week high of $12.96. The firm has a 50-day moving average price of $10.65 and a 200 day moving average price of $11.06. The company has a quick ratio of 2.63, a current ratio of 2.71 and a debt-to-equity ratio of 2.54.

Insider Buying and Selling

In other Accel Entertainment news, insider Derek Harmer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $10.00, for a total transaction of $50,000.00. Following the transaction, the insider now directly owns 216,575 shares in the company, valued at approximately $2,165,750. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David W. Ruttenberg sold 25,000 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $11.73, for a total transaction of $293,250.00. Following the transaction, the director now owns 298,135 shares in the company, valued at $3,497,123.55. The trade was a 7.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,000 shares of company stock valued at $979,750 over the last ninety days. Corporate insiders own 17.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Macquarie reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Accel Entertainment in a report on Tuesday, May 6th. Northland Securities increased their price target on shares of Accel Entertainment to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 1st.

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.