Insider Selling at Accel Entertainment: Director Offloads Shares Worth $137,488
Accel Entertainment, Inc. (NYSE: ACEL) director David W. Ruttenberg recently sold 12,500 shares of the company's stock at an average price of $10.9991, netting approximately $137,488. The transactions took place on August 15, 2024, and were disclosed in a Form 4 filing with the SEC on August 20, 2024.
Ruttenberg now holds 410,635 shares of Class A-1 Common Stock in the company, with the sold shares belonging to the Crilly Court Trust. The sale was executed in accordance with a Rule 10b5-1 trading plan adopted in December 2023 to prevent insider trading accusations.
Investors often track insider sales for insights into a company's valuation and prospects. However, executives may sell shares for reasons unrelated to their outlook on the company. Accel Entertainment recently reported record Q2 revenue of $309 million and has been expanding through acquisitions and share repurchases.
Analyzing Accel Entertainment's financials, the company has a market cap of $923.86 million and a P/E ratio of 19.62, adjusted to 17.14 for the last twelve months. Revenue has been growing steadily, but the stock is trading at a high Price/Book multiple of 4.41. The company is expected to be profitable this year, with moderate debt levels indicating prudent financial management.
While Accel Entertainment does not pay dividends, investors should consider the recent insider selling activity when evaluating the stock. For more insights and analysis, visit InvestingPro for detailed market information and guidance.
In summary, Accel Entertainment's insider selling, financial performance, and growth strategy provide valuable information for investors looking to make informed decisions about their portfolios. Understanding these factors can help individuals navigate the complex world of investing and potentially maximize their financial returns.