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In a recent transaction, Axel Entertainment, Inc. (NYSE:) Director David W. Ruttenberg sold a total of 25,000 shares of the company's stock, netting him over $280,000. The shares were sold at prices ranging from $11.343 to $11.3441, as reported in the company's latest SEC filing.
The transaction took place on March 15, 2024, and after the sale, Mr. Ruttenberg's direct holdings in the company totaled 454,045 shares. Notably, this sale was conducted pursuant to a prearranged Rule 10b5-1 trading plan, which allowed company insiders to avoid accusations of trading in nonpublic information. Shares can be sold at any time.
In addition, Ruttenberg was granted a significant number of restricted stock units (RSUs), which are conditional rights to receive shares of Class A-1 common stock without charge, totaling 21,613 units. These RSUs are expected to vest on December 31, 2024, provided that Mr. Ruttenberg continues to work for the Company until that date.
Based in Burr Ridge, Illinois, Accel Entertainment, Inc. operates in the Amusement and Recreation Services sector and is known for providing games and entertainment. Investors and market watchers often keep a close eye on insider transactions like Ruttenberg's, as they can provide an insider's perspective on a company's performance and stock value.
Investment Pro Insights
Following recent insider transactions in Accel Entertainment (NYSE:ACEL), investors may be interested in the company's financial health and share price performance.according to investment professional According to our data, Accel Entertainment has a market capitalization of approximately $975.47 Million and is trading at a P/E ratio of 21.88, reflecting investors' expectations of the company's earnings potential. The company's revenue has grown by 20.69% over the past 12 months as of Q4 2023, indicating a solid performance.
Furthermore, Accel Entertainment's stock price has increased by 14.45% over the past month and 15.25% over the past 3 months, indicating a strong return. This trend is investment pro tips This indicates that the stock is trading near its 52-week high, with a price ratio of 96.6% to its high. Additionally, analysts predict that the company will be profitable this year, which could be a positive signal for potential investors.
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