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

Accel Entertainment, Inc. (NYSE:ACEL) – 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 earn $0.23 per share for the quarter, up from their prior 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 Trading Up 0.3 %

Shares of NYSE ACEL traded up $0.03 during mid-day trading on Wednesday, hitting $11.28. The company’s stock had a trading volume of 202,361 shares, compared to its average volume of 257,252. The stock has a market cap of $945.26 million, a price-to-earnings ratio of 21.22 and a beta of 1.40. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.85 and a quick ratio of 2.78. Accel Entertainment has a one year low of $8.28 and a one year high of $12.05. The company’s fifty day simple moving average is $11.14 and its 200-day simple moving average is $10.57.

Accel Entertainment (NYSE:ACEL) last issued its 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. The company had revenue of $297.07 million for the quarter, compared to analyst estimates of $286.32 million. Accel Entertainment had a net margin of 3.90% and a return on equity of 39.62%.

Insider Activity at Accel Entertainment

In related news, Director David W. Ruttenberg sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $10.28, for a total value of $205,600.00. Following the sale, the director now directly owns 466,545 shares in the company, valued at approximately $4,796,082.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Accel Entertainment news, Director Karl Mr. Peterson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $11.00, for a total transaction of $330,000.00. Following the sale, the director now directly owns 2,505,645 shares in the company, valued at approximately $27,562,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David W. Ruttenberg sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $10.28, for a total transaction of $205,600.00. Following the sale, the director now owns 466,545 shares in the company, valued at $4,796,082.60. The disclosure for this sale can be found here. Insiders have sold 135,999 shares of company stock worth $1,520,439 in the last ninety days. Company insiders own 17.90% of the company’s stock.

Institutional Trading of Accel Entertainment

Hedge funds have recently bought and sold shares of the stock. Quarry LP raised its holdings in Accel Entertainment by 54.3% during the 4th quarter. Quarry LP now owns 2,823 shares of the company’s stock worth $29,000 after buying an additional 993 shares during the period. UBS Group AG raised its holdings in Accel Entertainment by 28,100.0% during the 3rd quarter. UBS Group AG now owns 3,666 shares of the company’s stock worth $29,000 after buying an additional 3,653 shares during the period. Tower Research Capital LLC TRC raised its holdings in Accel Entertainment by 154.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,838 shares of the company’s stock worth $41,000 after buying an additional 2,332 shares during the period. Cape Investment Advisory Inc. acquired a new stake in Accel Entertainment during the 4th quarter worth approximately $50,000. Finally, Advisor Group Holdings Inc. raised its holdings in Accel Entertainment by 87.1% during 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 period. 55.39% of the stock is currently owned by institutional investors and hedge funds.

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.