Accel Entertainment Inc. [ACEL] Stock trading around $11.73 per share: What’s Next?

Accel Entertainment Inc. [NYSE: ACEL] gained 9.12% or 0.98 points to close at $11.73 with a heavy trading volume of 1015674 shares. The company report on August 14, 2020 that Accel Entertainment, Inc. Announces Completion of Exchange Offer.

Accel Entertainment, Inc. (NYSE: ACEL) (the “Company”) announced today the completion of its previously announced exchange offer (the “Offer”) relating to outstanding warrants to purchase shares of its Class A-1 Common Stock. The Offer expired at 11:59 p.m., Eastern Standard Time, on August 11, 2020 (the “Expiration Date”).

A total of 7,189,990 warrants were validly tendered and not withdrawn prior to the Expiration Time, representing approximately 99.93% of the total warrants outstanding. On August 14, 2020, Accel accepted all such warrants and expects to issue an aggregate of 1,797,474 shares of Class A-1 Common Stock in exchange for the warrants tendered. Delivery of the shares to be issued in exchange for the warrants will be made promptly.

It opened the trading session at $10.72, the shares rose to $11.77 and dropped to $10.72, the range by which the price of stock traded the whole day. The daily chart for ACEL points out that the company has recorded -9.70% loss over the past six months. However, it is still -124.71% lower than its most recent low trading price.

If we look at the average trading volume of 527.48K shares, ACEL reached to a volume of 1015674 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Accel Entertainment Inc. [ACEL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ACEL shares is $11.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ACEL stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Deutsche Bank have made an estimate for Accel Entertainment Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 08, 2020.

The Average True Range (ATR) for Accel Entertainment Inc. is set at 0.65, with the Price to Sales ratio for ACEL stock in the period of the last 12 months amounting to 1.75. The Price to Book ratio for the last quarter was 10.86, with the Price to Cash per share for the same quarter was set at 2.29.

Trading performance analysis for ACEL stock

Accel Entertainment Inc. [ACEL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.55. With this latest performance, ACEL shares gained by 33.14% in over the last four-week period, additionally sinking by -9.70% over the last 6 months – not to mention a rise of 14.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ACEL stock in for the last two-week period is set at 72.52, with the RSI for the last a single of trading hit 80.23, and the three-weeks RSI is set at 67.75 for Accel Entertainment Inc. [ACEL]. The present Moving Average for the last 50 days of trading for this stock 9.46, while it was recorded at 10.83 for the last single week of trading, and 10.17 for the last 200 days.

Accel Entertainment Inc. [ACEL]: A deeper dive into fundamental analysis

Accel Entertainment Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 4.10.

Accel Entertainment Inc. [ACEL]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ACEL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Accel Entertainment Inc. go to 7.13%.

An analysis of insider ownership at Accel Entertainment Inc. [ACEL]

There are presently around $367 million, or 56.60% of ACEL stock, in the hands of institutional investors. The top three institutional holders of ACEL stocks are: FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, LLC with ownership of 6,225,679, which is approximately 0.973% of the company’s market cap and around 5.30% of the total institutional ownership; TPG GROUP HOLDINGS (SBS) ADVISORS, INC., holding 4,003,632 shares of the stock with an approximate value of $46.96 million in ACEL stocks shares; and VANGUARD GROUP INC, currently with $34.42 million in ACEL stock with ownership of nearly 26.209% of the company’s market capitalization.

54 institutional holders increased their position in Accel Entertainment Inc. [NYSE:ACEL] by around 10,580,990 shares. Additionally, 28 investors decreased positions by around 6,683,860 shares, while 14 investors held positions by with 14,017,934 shares. The mentioned changes placed institutional holdings at 31,282,784 shares, according to the latest SEC report filing. ACEL stock had 42 new institutional investments in for a total of 6,911,269 shares, while 12 institutional investors sold positions of 3,920,519 shares during the same period.

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