Accel Entertainment, Inc. (NYSE:ACEL) Short Interest Up 28.8% in March

Accel Entertainment, Inc. (NYSE:ACEL) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,030,000 shares, an increase of 28.8% from the February 28th total of 799,400 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily volume of 313,700 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $10.61, for a total transaction of $265,250.00. Following the transaction, the director now owns 348,135 shares of the company’s stock, valued at approximately $3,693,712.35. This represents a 6.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 19.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ACEL. PharVision Advisers LLC bought a new position in Accel Entertainment during the fourth quarter worth $189,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Accel Entertainment by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,064 shares of the company’s stock worth $706,000 after purchasing an additional 9,039 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Accel Entertainment by 111.5% during the 4th quarter. Two Sigma Advisers LP now owns 149,500 shares of the company’s stock worth $1,597,000 after purchasing an additional 78,800 shares during the period. Two Sigma Investments LP raised its position in shares of Accel Entertainment by 164.3% during the fourth quarter. Two Sigma Investments LP now owns 160,094 shares of the company’s stock valued at $1,710,000 after buying an additional 99,532 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Accel Entertainment in the fourth quarter valued at about $255,000. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Accel Entertainment Stock Performance

Shares of NYSE:ACEL traded down $0.04 during midday trading on Monday, hitting $9.94. The company’s stock had a trading volume of 366,103 shares, compared to its average volume of 261,011. 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’s 50 day simple moving average is $10.99 and its 200 day simple moving average is $11.21. The stock has a market capitalization of $850.05 million, a price-to-earnings ratio of 19.48 and a beta of 1.54. Accel Entertainment has a fifty-two week low of $9.37 and a fifty-two week high of $12.96.

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.