Interactive Brokers shares jump as it secures spot in S&P 500
Derek Harmer, the Secretary of Accel Entertainment, Inc. (NYSE:ACEL), a $933 million market cap company currently showing strong momentum with a 14.5% gain in the past week, recently sold shares totaling $102,500, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimate. The transactions, conducted under a prearranged Rule 10b5-1 trading plan, involved the sale of 10,000 shares of Class A-1 Common Stock. The sales took place on March 19 and April 9, with prices ranging from $10.00 to $10.50 per share.
Following these transactions, Harmer retains ownership of 211,575 shares in the company. The trades were executed under a trading plan adopted on December 13, 2024, ensuring compliance with insider trading regulations.
In other recent news, Accel Entertainment reported a strong financial performance for the fourth quarter of 2024, with a 6.9% increase in revenue, reaching $318 million. The company’s full-year revenue grew by 5.2%, totaling $1.2 billion. This growth is attributed to strategic expansions, such as entering the Louisiana market and acquiring Fairmont Park. Accel Entertainment plans to open Phase One of the Fairmont Casino (EPA:CASP) in the second quarter of 2025, which is expected to enhance their market position. Additionally, the company announced a significant leadership change with the appointment of Scott Levin as Chief Legal Officer, while Derek Harmer transitions to the role of Chief Compliance Officer.
Accel’s expansion efforts are further supported by a robust capital expenditure plan for 2025, estimated between $75 million and $80 million. The company continues to focus on optimizing its operations, including the strategic closure of underperforming locations in Illinois. Accel Entertainment is also exploring growth opportunities in the e-pull tabs market, potentially through partnerships. Analyst firms have not reported any recent upgrades or downgrades, but the company remains optimistic about future growth in the local gaming sector.
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