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In a recent transaction, Accel Entertainment, Inc. (NYSE:) Director Carl Peterson sold 10,000 shares of the company's stock at a price of $11.47 per share, for a total value of $114,700. The sale took place on March 19, 2024, and was disclosed in a filing with the Securities and Exchange Commission.
Accel Entertainment, which operates in the Entertainment and Recreation Services sector, has seen its shares being actively traded by insiders, which indicates that there is continued interest in the company's stock price trend. Mr. Peterson's sale was effected pursuant to a prearranged Rule 10b5-1 transaction plan. This allows company insiders to make advance plans to sell stock at specific times. The plan was adopted on March 15, 2023, and Mr. Peterson asserted at that time that he did not have any material non-public information about the company.
The filing also reported that Peterson was granted 26,979 restricted stock units (RSUs) in parallel with the sale of non-derivative securities. This is a conditional right to receive, upon settlement, shares of Accel Entertainment's Class A-1 common stock without consideration. These RSUs are expected to vest on December 31, 2024, given that Mr. Peterson will continue to work for the Company until that date.
The transaction by Peterson reflects both a sale and an investment in the company's future, as it is balanced by the sale of current shares and potential future ownership through RSUs. Following the sale, Peterson still holds a significant stake in Accel Entertainment, amounting to 2,495,645 shares, indicating his continued involvement in the company's performance.
Investors and market watchers often focus on insider transactions as a sign of confidence in a company's prospects. This latest move by Axel Entertainment's key directors gives stakeholders an insight into an insider's perspective on the company's value.
Investment Pro Insights
Accel Entertainment, Inc. (NYSE:ACEL) has recently attracted the attention of investors with its robust business performance metrics. As of the trailing twelve months ending in the fourth quarter of 2023, the company reported revenue growth of 20.69%, supporting its expansion in the Amusement and Recreation Services segment. This growth is complemented by his high gross profit margin of 30.18%, which indicates the company's ability to effectively manage cost of goods sold.
Moreover, reflecting investor optimism and the company's momentum in the market, the company's stock posted a remarkable total return of 15.25% over the past three months. This positive trend is supported by the fact that Accel Entertainment is trading near its 52-week high and price is at his 96.6% of this high. These achievements demonstrate that the company's strategy and business success are accepted by the market.
Accel Entertainment's InvestingPro Tips highlight that the company's current assets currently exceed its short-term debt, suggesting a strong financial position to handle its immediate liabilities. Additionally, the company operates with moderate debt, which could provide the leverage needed to fuel further growth without overextending its financial commitments.
For investors seeking a more comprehensive analysis and additional InvestingPro Tips, we have nine more tips that provide deeper insight into Accel Entertainment's financial health and market position. To take advantage of these tips, visit https://www.investing.com/pro/ACEL and use your coupon code. pro news 24 Get an extra 10% off annual or biennial Pro and Pro+ subscriptions.
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