Magnetar Financial LLC Boosts Stake in Accel Entertainment, Inc. (NYSE:ACEL)

Magnetar Financial LLC raised its holdings in Accel Entertainment, Inc. (NYSE:ACEL) by 25.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,385 shares of the company’s stock after acquiring an additional 3,759 shares during the quarter. Magnetar Financial LLC’s holdings in Accel Entertainment were worth $196,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. New York State Teachers Retirement System bought a new position in shares of Accel Entertainment in the fourth quarter worth approximately $51,000. Point72 Asset Management L.P. purchased a new position in Accel Entertainment in the 3rd quarter worth approximately $64,000. Quantbot Technologies LP purchased a new stake in shares of Accel Entertainment during the 3rd quarter valued at $78,000. R Squared Ltd purchased a new stake in shares of Accel Entertainment during the 4th quarter valued at $91,000. Finally, EP Wealth Advisors LLC purchased a new position in Accel Entertainment in the third quarter worth $146,000. Institutional investors own 55.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Accel Entertainment Stock Down 0.8 %

Shares of ACEL opened at $9.95 on Monday. The firm has a market cap of $850.90 million, a P/E ratio of 19.50 and a beta of 1.54. Accel Entertainment, Inc. has a 1 year low of $9.37 and a 1 year high of $12.96. The stock has a 50 day simple moving average of $11.05 and a two-hundred day simple moving average of $11.26. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.71 and a quick ratio of 2.63.

Insider Activity

In related news, Director David W. Ruttenberg sold 25,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $12.35, for a total transaction of $308,750.00. Following the completion of the sale, the director now directly owns 335,635 shares in the company, valued at $4,145,092.25. This represents a 6.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 19.17% of the stock is owned by corporate insiders.

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.