Cubist Systematic Strategies LLC Has $237,000 Position in Accel Entertainment, Inc. $ACEL

Cubist Systematic Strategies LLC cut its stake in Accel Entertainment, Inc. (NYSE:ACEL) by 72.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 23,872 shares of the company’s stock after selling 62,132 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Accel Entertainment were worth $237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in shares of Accel Entertainment in the 1st quarter valued at $35,000. Trifecta Capital Advisors LLC increased its stake in shares of Accel Entertainment by 437.9% in the 1st quarter. Trifecta Capital Advisors LLC now owns 9,144 shares of the company’s stock valued at $91,000 after purchasing an additional 7,444 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Accel Entertainment in the 1st quarter valued at $101,000. Quarry LP increased its stake in shares of Accel Entertainment by 136.3% in the 1st quarter. Quarry LP now owns 11,784 shares of the company’s stock valued at $117,000 after purchasing an additional 6,797 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Accel Entertainment in the 4th quarter valued at $134,000. 55.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.50.

Accel Entertainment Stock Up 2.7%

Shares of ACEL opened at $11.39 on Friday. The company has a market capitalization of $960.06 million, a PE ratio of 28.48 and a beta of 1.12. Accel Entertainment, Inc. has a 12 month low of $9.02 and a 12 month high of $13.27. The stock’s 50-day moving average price is $11.81 and its two-hundred day moving average price is $11.24. The company has a current ratio of 2.64, a quick ratio of 2.56 and a debt-to-equity ratio of 2.15.

Insider Transactions at Accel Entertainment

In other news, Director David W. Ruttenberg sold 25,000 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $11.30, for a total value of $282,500.00. Following the transaction, the director directly owned 285,635 shares of the company’s stock, valued at $3,227,675.50. The trade was a 8.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Derek Harmer sold 5,000 shares of the business’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $11.50, for a total value of $57,500.00. Following the completion of the transaction, the insider directly owned 202,880 shares in the company, valued at $2,333,120. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,000 shares of company stock worth $976,550 over the last three months. 18.33% of the stock is owned by company insiders.

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.