Fairview Capital Investment Manag.. recently announced the acquisition of new stake in Accel Entertainment Inc. (NYSE:ACEL). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.97% to 6.23 million shares with purchase of 60000.0 shares. This fresh investment now brings its stake to 7.94% valued currently at $49.74 million. In addition, Light Street Capital Management L.. raised its holdings by 2.84 million to 2.84 million shares. And The Vanguard Group, Inc. has lifted its position by 20.68% or 0.48 million shares – to 2.81 million shares.
With over 1.13 million Accel Entertainment Inc. (ACEL) shares trading Tuesday and a closing price of $12.09 on the day, the dollar volume was approximately $13.67 million. The shares have shown a positive weekly performance of 1.68% and its price on 09/01/20 gained nearly 1.94%. Currently, there are 78.00M common shares owned by the public and among those 40.18M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ACEL have a consensus price objective of $12.00. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $11.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Accel Entertainment Inc. stock is 2.20 for the next 12 months. The average price target is -0.75% below its last price level and a downside to the estimated low will see the stock lose -9.91% over that period. But an upside of 7.0% will see the stock hit the forecast high price target while mean target price for the stock is $12.00.
The top 3 mutual fund holders in Accel Entertainment Inc. are Vanguard Total Stock Market Index, American Century Small Cap Value, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 1.78 million shares of the company’s stock, all valued at over $14.25 million. The company sold 29963.0 shares recently to bring their total holdings to about 2.28% of the shares outstanding. American Century Small Cap Value bought 0.1 million shares to see its total holdings expand to 1.43 million shares valued at over $11.39 million and representing 1.82% of the shares outstanding. iShares Russell 2000 ETF sold 40698.0 shares to bring its total holdings to over 0.87 million shares at a value of $6.95 million. iShares Russell 2000 ETF now owns shares totaling to 1.11% of the shares outstanding.
Shares of Accel Entertainment Inc. (NYSE: ACEL) opened at $11.96, up $0.1 from a prior closing price of $11.86. However, the script later closed the day at $12.09, up 1.94%. The company’s stock has a 5-day price change of 1.68% and 20.18% over the past three months. ACEL shares are trading -3.28% year to date (YTD), with the 12-month market performance up to 17.95% higher. It has a 12-month low price of $5.22 and touched a high of $13.35 over the same period. Currently, 1.13 million shares have been traded, compared to an average intraday trading volume of 540.31K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.68%, 24.09%, and 18.21% respectively.
Institutional ownership of Accel Entertainment Inc. (NYSE: ACEL) shares accounts for 60.60% of the company’s 78.00M shares outstanding. Mutual fund holders own 41.51%, while other institutional holders and individual stakeholders account for 9.11% and 25.77% respectively.
It has a market capitalization of $984.85M. The earnings-per-share (ttm) stands at -$0.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.16% over the week and 7.19% over the month.
Analysts forecast that Accel Entertainment Inc. (ACEL) will achieve an EPS of $0.03 for the current quarter, $0.06 for the next quarter and $0.55 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of $0.13. Earnings per share for the fiscal year are expected to decrease by -177.70%, and 2100.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Accel Entertainment Inc. (ACEL) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ACEL, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on June 08, 2020, with the firm’s price target at $11.