Wardinski's $578K open-market buy is the largest insider purchase on ACEL in over a month and aligns with record Q1 results and a strategic catalyst — Chicago market opening. The small Rubenstein sale appears routine/liquidity-driven. No bearish signal in the cluster. Monitor for further insider buys following the Chicago regulatory approvals, which could signal confidence in near-term growth acceleration.
Price Chart
Executive Summary
Two Accel directors traded in the week following record Q1 revenue of $352M (+9% YoY) and adjusted EBITDA of $54M (+9% YoY). Director Wardinski bought $578K of stock on the open market at $11.55, while Director Rubenstein sold $57K worth in a much smaller transaction. The CAO exercised options and surrendered shares for tax withholding — all non-cash. Net direction mixed, but the dominant signal is a large insider buy at 0.06% of market cap, paired with strong fundamentals and an active buyback program.
Key Financial Metrics
Key Facts
- Director Bruce Wardinski bought 50,000 shares at $11.55 for $578,000 — open-market purchase at 0.06% of $945M market cap.
- Director Gordon Rubenstein sold 4,876 shares at $11.55 for $56,318 — a small disposition 1/10th the size of Wardinski's buy.
- CAO Christen Kozlik exercised 4,902 options and surrendered 1,437 shares for tax withholding; no net open-market activity.
- Cluster occurred 6-13 days after Q1 earnings: record revenue $352M (+9% YoY), Adj. EBITDA $54M (+9% YoY), net income flat at $14.7M.
- Company repurchased 1.1M shares for $12M in Q1; net leverage at 1.4x provides balance sheet flexibility.
- Illinois gaming market opening in Chicago is a near-term catalyst — company expects to leverage existing infrastructure.
Financial Impact
Director buy of $578K represents ~$49M of market cap at current price — a modest but clear vote of confidence. Q1 revenue record $352M (+9% YoY) and Adj. EBITDA $54M (+9% YoY). Net income flat at $14.7M.
Risk Factors
- Net income flat YoY despite record revenue — margin compression risk if developing markets don't scale profitability.
- Chicago market opening depends on regulatory approvals — timing uncertain.
- Insider cluster small relative to market cap (0.06%) — single-director buy not a flood of conviction.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ACEL-1779145526779 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 3 | $10.83 | awaiting T+20 | — | $11.28 (+4.16%) |
Oct 6, 2026 19d ago | 3 | $10.94 | awaiting T+20 | — | $11.28 (+3.11%) |
Sep 17, 2026 5w ago | Insider Cluster | $11.27 $10.88 | ▲ +3.46% | ▲ +3.67% | $11.28 (−0.09%) |
Aug 14, 2026 10w ago | Institutional Cluster | $12.19 $11.55 | ▼ −5.25% | ▼ −3.27% | $11.28 (−7.47%) |
Jun 15, 2026 18w ago | Insider Cluster | $13.08 $12.50 | ▼ −4.43% | ▼ −4.63% | $11.28 (−13.76%) |
Jun 15, 2026 18w ago | Insider Cluster | $13.08 $12.50 | ▼ −4.43% | ▼ −4.63% | $11.28 (−13.76%) |
May 11, 2026 24w ago | Insider Cluster | $11.47 $13.16 | ▲ +14.73% | ▲ +16.46% | $11.28 (−1.66%) |
May 8, 2026 24w ago | Insider Cluster | $11.63 $12.06 | ▲ +3.70% | ▲ +3.67% | $11.28 (−3.01%) |
Mar 19, 2026 31w ago | DEFA14A | $10.92 $11.81 | ▲ +8.15% | ▼ −1.17% | $11.28 (+3.30%) |
Mar 16, 2026 31w ago | Insider Cluster | $11.05 $11.79 | ▲ +6.70% | ▲ +2.35% | $11.28 (+2.08%) |
US Market Status
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