Intech Investment Management LLC Takes Position in Accel Entertainment, Inc. (NYSE:ACEL)

Intech Investment Management LLC bought a new position in Accel Entertainment, Inc. (NYSE:ACEL) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 22,695 shares of the company’s stock, valued at approximately $242,000.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Accel Entertainment by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 441,937 shares of the company’s stock worth $5,135,000 after buying an additional 3,151 shares during the last quarter. Algert Global LLC boosted its holdings in Accel Entertainment by 12.3% during the third quarter. Algert Global LLC now owns 177,640 shares of the company’s stock valued at $2,064,000 after acquiring an additional 19,400 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Accel Entertainment in the third quarter valued at about $78,000. Verition Fund Management LLC increased its stake in shares of Accel Entertainment by 43.3% in the third quarter. Verition Fund Management LLC now owns 22,618 shares of the company’s stock worth $263,000 after purchasing an additional 6,830 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Accel Entertainment during the 3rd quarter worth about $64,000. Institutional investors own 55.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie raised their target price 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 Accel Entertainment stock in a transaction that occurred 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 sale, the director now owns 335,635 shares of the company’s stock, valued at approximately $4,145,092.25. This trade represents a 6.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.17% of the company’s stock.

Accel Entertainment Price Performance

NYSE:ACEL opened at $10.23 on Thursday. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.71 and a quick ratio of 2.63. Accel Entertainment, Inc. has a one year low of $9.37 and a one year high of $12.96. The company has a fifty day moving average price of $11.03 and a 200 day moving average price of $11.24. The stock has a market cap of $874.86 million, a P/E ratio of 20.05 and a beta of 1.54.

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.