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BURR RIDGE, IL—David W. Ruttenberg, a director at Accel Entertainment, Inc. (NYSE:ACEL), a gaming company with a market capitalization of $960 million, sold 25,000 shares of Class A-1 Common Stock on April 15, according to a recent SEC filing. InvestingPro analysis indicates the company currently trades below its Fair Value, with analysts setting price targets between $15-16. The shares were sold at a weighted average price of $11.0819, resulting in a total transaction value of $277,047.
The sale was conducted under a Rule 10b5-1 trading plan that Ruttenberg adopted in December 2023. This plan, which also involves the Crilly Court Trust and Grant Place Fund LLC, allows for pre-determined stock sales and includes a representation that Ruttenberg was not in possession of any material nonpublic information at the time of the plan’s adoption. The company maintains strong financial health with a current ratio of 2.76, indicating robust liquidity position.
Following these transactions, Ruttenberg retains ownership of 310,635 shares through the Crilly Court Trust and 450,526 shares through Grant Place Fund LLC. It’s noteworthy that Ruttenberg disclaims beneficial ownership of these securities, except for his pecuniary interest. For deeper insights into ACEL’s valuation and financial metrics, including 12+ additional ProTips, visit InvestingPro, where you’ll find comprehensive analysis in our Pro Research Report.
In other recent news, Accel Entertainment reported a 6.9% increase in fourth-quarter revenue for 2024, reaching $318 million, while the full-year revenue climbed to $1.2 billion, marking a 5.2% increase from the previous year. The company also announced plans to invest $75-$80 million in capital expenditures for 2025, focusing on existing markets, the expansion into Louisiana, and the development of the Fairmont Casino (EPA:CASP). In a strategic move, Accel has appointed Scott Levin as the new Chief Legal Officer and Secretary, bringing over thirty years of legal experience to the company. This leadership change comes as the company continues to expand its market presence and strengthen its position in the local gaming sector.
Furthermore, Accel Entertainment has entered the Louisiana market and acquired Fairmont Park, with plans to open the Fairmont Casino Phase One in the second quarter of 2025. The company’s strategic initiatives and strong financial performance set a positive tone for future growth. The expansion into new markets and strategic acquisitions have positioned Accel for continued growth. The company is also exploring opportunities in the e-pull tabs market through potential partnerships. These developments reflect Accel’s commitment to innovation and expansion in the gaming industry.
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