American International Group Inc. grew its stake in shares of USA Technologies, Inc. (NASDAQ:USAT) by 25.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,660 shares of the technology company’s stock after acquiring an additional 6,543 shares during the period. American International Group Inc. owned 0.06% of USA Technologies worth $318,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Prudential Financial Inc. acquired a new stake in shares of USA Technologies in the 3rd quarter valued at $121,000. Alliancebernstein L.P. acquired a new position in USA Technologies during the 2nd quarter worth $130,000. New York State Common Retirement Fund lifted its position in USA Technologies by 75.7% during the 2nd quarter. New York State Common Retirement Fund now owns 29,700 shares of the technology company’s stock worth $154,000 after acquiring an additional 12,799 shares during the last quarter. Aperio Group LLC acquired a new position in USA Technologies during the 4th quarter worth $156,000. Finally, The Manufacturers Life Insurance Company lifted its position in USA Technologies by 17.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,782 shares of the technology company’s stock worth $181,000 after acquiring an additional 5,263 shares during the last quarter. 56.05% of the stock is owned by institutional investors and hedge funds.
In related news, Director Albin F. Moschner sold 20,000 shares of the firm’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $9.45, for a total value of $189,000.00. Following the completion of the transaction, the director now owns 352,926 shares of the company’s stock, valued at $3,335,150.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Albin F. Moschner sold 9,478 shares of USA Technologies stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $9.61, for a total transaction of $91,083.58. Following the completion of the transaction, the director now directly owns 352,926 shares of the company’s stock, valued at approximately $3,391,618.86. The disclosure for this sale can be found here. Insiders have sold 30,522 shares of company stock valued at $290,210 in the last three months. 4.38% of the stock is owned by insiders.
USAT has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of USA Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a research note on Friday, January 12th. Northland Securities set a $12.00 target price on shares of USA Technologies and gave the company a “buy” rating in a research note on Monday, December 18th. Finally, BidaskClub cut shares of USA Technologies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. USA Technologies currently has an average rating of “Buy” and an average price target of $12.00.
USA Technologies, Inc. (USAT) opened at $9.55 on Tuesday. USA Technologies, Inc. has a twelve month low of $3.85 and a twelve month high of $10.10. The firm has a market cap of $525.51, a P/E ratio of -39.79 and a beta of 0.68. The company has a quick ratio of 1.05, a current ratio of 1.36 and a debt-to-equity ratio of 0.31.
USA Technologies (NASDAQ:USAT) last posted its earnings results on Thursday, February 8th. The technology company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. USA Technologies had a negative net margin of 10.39% and a positive return on equity of 2.18%. The company had revenue of $32.51 million for the quarter, compared to analyst estimates of $31.38 million. equities analysts predict that USA Technologies, Inc. will post 0.06 EPS for the current fiscal year.
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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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