Granite Investment Partners LLC reduced its stake in shares of USA Technologies, Inc. (NASDAQ:USAT) by 34.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 462,010 shares of the technology company’s stock after selling 240,857 shares during the quarter. Granite Investment Partners LLC owned about 0.92% of USA Technologies worth $2,887,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in USA Technologies by 15.2% during the first quarter. Bank of New York Mellon Corp now owns 122,125 shares of the technology company’s stock worth $519,000 after acquiring an additional 16,143 shares during the period. Vanguard Group Inc. increased its stake in USA Technologies by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,440,142 shares of the technology company’s stock worth $6,121,000 after purchasing an additional 45,825 shares in the last quarter. Geode Capital Management LLC increased its stake in USA Technologies by 5.3% in the 1st quarter. Geode Capital Management LLC now owns 274,159 shares of the technology company’s stock worth $1,165,000 after purchasing an additional 13,887 shares in the last quarter. Monarch Partners Asset Management LLC increased its stake in USA Technologies by 13.8% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 114,430 shares of the technology company’s stock worth $595,000 after purchasing an additional 13,840 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in USA Technologies by 25.2% in the 2nd quarter. Rhumbline Advisers now owns 39,402 shares of the technology company’s stock worth $205,000 after purchasing an additional 7,935 shares in the last quarter. Institutional investors and hedge funds own 51.17% of the company’s stock.
Shares of USA Technologies, Inc. (NASDAQ USAT) remained flat at $$8.45 during trading on Thursday. 604,384 shares of the stock traded hands, compared to its average volume of 312,586. The firm has a market capitalization of $453.09, a price-to-earnings ratio of 422.50 and a beta of 1.03. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.01. USA Technologies, Inc. has a 1 year low of $3.80 and a 1 year high of $8.95.
USA Technologies (NASDAQ:USAT) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.01. USA Technologies had a return on equity of 1.20% and a net margin of 0.37%. The business had revenue of $25.62 million during the quarter, compared to analyst estimates of $25.87 million. sell-side analysts predict that USA Technologies, Inc. will post 0.07 EPS for the current fiscal year.
A number of equities analysts recently weighed in on USAT shares. BidaskClub cut USA Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded USA Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. William Blair started coverage on USA Technologies in a research report on Thursday, August 24th. They set an “outperform” rating for the company. Finally, Northland Securities restated a “buy” rating and set a $7.25 price objective on shares of USA Technologies in a research report on Tuesday, September 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.25.
In related news, Director Albin F. Moschner sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $8.47, for a total value of $67,760.00. Following the completion of the sale, the director now directly owns 416,926 shares in the company, valued at approximately $3,531,363.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Albin F. Moschner sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $8.29, for a total value of $99,480.00. Following the completion of the sale, the director now owns 392,926 shares of the company’s stock, valued at $3,257,356.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,000 shares of company stock valued at $486,440. Corporate insiders own 4.38% of the company’s stock.
USA Technologies Profile
USA Technologies, Inc provides technology-enabled solutions and value-added services that facilitate electronic payment transactions within the unattended point of sale (POS) market. The Company is a provider in the small ticket, beverage and food vending industry and is also engaged in offering solutions and services to other unattended market segments, such as amusement, commercial laundry, kiosk and others.
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