BlackRock Discloses 7.0% Passive Stake in Accel Entertainment
Ticker: ACEL · Form: SC 13G · Filed: Jan 29, 2024 · CIK: 1698991
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**BlackRock owns 7.0% of Accel Entertainment, a big vote of confidence but no active takeover.**
AI Summary
BlackRock Inc., a major investment firm, reported its ownership of 6,293,767 shares of Accel Entertainment, Inc. (NASDAQ: ACEL) common stock as of December 31, 2023. This represents a 7.0% stake in the company. This filing indicates BlackRock's significant, but passive, investment in Accel Entertainment, a company in the amusement and recreation services industry. For current or prospective shareholders, this means a large institutional investor sees value in ACEL, potentially signaling stability or future growth, but BlackRock isn't actively seeking to influence management.
Why It Matters
Large institutional ownership by firms like BlackRock can lend credibility to a stock and often indicates a belief in the company's long-term prospects, which can reassure other investors.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces risk by signaling confidence without suggesting disruptive changes.
Analyst Insight
An investor might view BlackRock's significant, passive stake as a positive signal of long-term value, but should still conduct their own due diligence on Accel Entertainment's fundamentals and industry outlook.
Key Numbers
- 6,293,767 — Shares Owned (The total number of Accel Entertainment common shares held by BlackRock Inc.)
- 7.0% — Ownership Percentage (The percentage of Accel Entertainment's common stock owned by BlackRock Inc.)
- December 31, 2023 — Reporting Date (The date as of which BlackRock's ownership stake is reported.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Accel Entertainment, Inc. (company) — the subject company whose shares are owned
- 6,293,767 (dollar_amount) — number of shares of common stock owned by BlackRock
- 7.0% (dollar_amount) — percentage of Accel Entertainment's common stock owned by BlackRock
- December 31, 2023 (person) — the date of the event requiring this filing
Forward-Looking Statements
- BlackRock will maintain its passive stake in Accel Entertainment for the foreseeable future. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person in this SC 13G filing is BlackRock Inc., a major investment management corporation, as stated in the 'FILED BY' section of the filing.
What company's shares are the subject of this filing?
The shares of Accel Entertainment, Inc. are the subject of this filing, as indicated under the 'SUBJECT COMPANY' section and 'Name of Issuer' on the Schedule 13G form.
How many shares of Accel Entertainment, Inc. common stock does BlackRock Inc. report owning?
BlackRock Inc. reports owning 6,293,767 shares of Accel Entertainment, Inc. common stock, as detailed in the filing's summary of ownership.
What percentage of Accel Entertainment, Inc.'s common stock does BlackRock Inc. own?
BlackRock Inc. owns 7.0% of Accel Entertainment, Inc.'s common stock, based on the information provided in the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated on the Schedule 13G form.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 29, 2024 by December 31, 2023 regarding Accel Entertainment, Inc. (ACEL).