1492 Capital Management LLC cut its stake in USA Technologies, Inc. (NASDAQ:USAT) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 442,708 shares of the technology company’s stock after selling 54,162 shares during the quarter. USA Technologies makes up 3.4% of 1492 Capital Management LLC’s portfolio, making the stock its 4th biggest holding. 1492 Capital Management LLC owned 0.83% of USA Technologies worth $4,316,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of USA Technologies in the fourth quarter worth $1,918,000. TIAA CREF Investment Management LLC increased its stake in shares of USA Technologies by 8.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 110,151 shares of the technology company’s stock worth $1,074,000 after acquiring an additional 8,304 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of USA Technologies by 27.5% in the fourth quarter. Teachers Advisors LLC now owns 85,158 shares of the technology company’s stock worth $830,000 after acquiring an additional 18,345 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of USA Technologies in the fourth quarter worth $118,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of USA Technologies in the fourth quarter worth $2,166,000. 56.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of USA Technologies, Inc. (NASDAQ:USAT) opened at $9.60 on Tuesday. The stock has a market cap of $514.78, a price-to-earnings ratio of -80.00 and a beta of 0.68. USA Technologies, Inc. has a fifty-two week low of $3.85 and a fifty-two week high of $10.10. The company has a quick ratio of 1.05, a current ratio of 1.36 and a debt-to-equity ratio of 0.31.
In related news, Director Albin F. Moschner sold 9,478 shares of the company’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $9.61, for a total value of $91,083.58. Following the completion of the sale, the director now directly owns 352,926 shares in the company, valued at $3,391,618.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Albin F. Moschner sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $9.45, for a total transaction of $189,000.00. Following the completion of the sale, the director now owns 352,926 shares of the company’s stock, valued at $3,335,150.70. The disclosure for this sale can be found here. Insiders sold 50,901 shares of company stock valued at $484,097 over the last quarter. 4.38% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently issued reports on USAT shares. Zacks Investment Research upgraded shares of USA Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a report on Friday, January 12th. Northland Securities set a $12.00 price objective on shares of USA Technologies and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, BidaskClub cut shares of USA Technologies from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.00.
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USA Technologies Company 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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