In a recent transaction, David W. Ruttenberg, a director at Accel Entertainment, Inc. (NYSE:ACEL), sold a total of 25,000 shares of the company's stock, garnering 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 transactions took place on March 15, 2024, and following the sales, Ruttenberg's direct holdings in the company amount to 454,045 shares. It's worth noting that the sales were conducted in accordance with a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of trading on nonpublic information.
Additionally, Ruttenberg was granted a significant number of restricted stock units (RSUs), totaling 21,613 units, which are contingent rights to receive shares of Class A-1 Common Stock at no cost. These RSUs are set to vest on December 31, 2024, provided that Ruttenberg continues his service with the company until that date.
Accel Entertainment, Inc., based in Burr Ridge, Illinois, operates within the amusement and recreation services sector and is known for its gaming and entertainment offerings. Investors and market watchers often keep a close eye on insider transactions, such as those by Ruttenberg, as they may provide insights into the company's performance and insider perspectives on the stock's value.
InvestingPro Insights
Following the recent insider transactions at Accel Entertainment, Inc. (NYSE:ACEL), investors may be curious about the company's financial health and stock performance. According to InvestingPro 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 about the company's earnings potential. The company's revenue has grown by 20.69% over the last twelve months as of Q4 2023, signaling robust business performance.
Moreover, Accel Entertainment's stock has demonstrated strong returns, with a 14.45% increase over the last month and a 15.25% rise over the last three months. This trend aligns with the InvestingPro Tips indicating that the stock is trading near its 52-week high, with a price percentage of 96.6% of that peak. Additionally, analysts predict that the company will be profitable this year, which could be a positive signal for potential investors.
For those interested in delving deeper into Accel Entertainment's financials and stock performance, there are additional InvestingPro Tips available, providing a comprehensive analysis of the company. By using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights, which currently include a total of 9 tips for Accel Entertainment.
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