Interactive Brokers shares jump as it secures spot in S&P 500
David W. Ruttenberg, a director at Accel Entertainment, Inc. (NYSE:ACEL), reported selling a total of 25,000 shares of the company's Class A-1 Common Stock. The company, currently valued at $907 million, shows GREAT financial health according to InvestingPro analysis. The transactions, conducted on January 15, 2025, were executed at a weighted average price range of $10.607 to $10.6073 per share, totaling approximately $265,178. Following these transactions, Ruttenberg holds 348,135 shares indirectly through entities such as Grant Place Fund LLC and Crilly Court Trust, where he has a managerial or beneficial interest. These sales were made under a Rule 10b5-1 trading plan adopted in December 2023. With analysts setting a $15 price target and the stock currently trading at $11.05, InvestingPro subscribers can access detailed insider trading patterns and comprehensive valuation metrics in the Pro Research Report, available for over 1,400 US stocks.
In other recent news, Accel Entertainment has made significant strides in its expansion strategy. The company recently completed the acquisition of a majority stake in two Louisiana-based gaming entities, Toucan Gaming, LLC and LSM Gaming, LLC, for $40 million. The acquisition, which includes 13 truck stop locations with 450 gaming terminals and 60 locations with three machines each, is expected to generate approximately $25 million in revenue and $6 million in Adjusted EBITDA for the year 2025.
Accel also reported a steady increase in its third-quarter results for 2024, with a revenue of $302 million and an adjusted EBITDA of $46 million. This represents a year-over-year growth of 5.1% and 3.9%, respectively. The company's growth has been attributed to strategic moves in Illinois, its largest market, and expansion into new markets including Nebraska, along with the upcoming acquisition of Fairmont Park.
These recent developments underline Accel Entertainment's commitment to growth and shareholder returns. With a focus on organic growth in Illinois, Nebraska, and Georgia, and exploring M&A opportunities in the $15 billion local gaming market, the company is positioning itself for future success amid a dynamic gaming industry landscape.
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