Formula Growth Ltd. decreased its holdings in shares of USA Technologies, Inc. (NASDAQ:USAT) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,789 shares of the technology company’s stock after selling 5,000 shares during the period. Formula Growth Ltd.’s holdings in USA Technologies were worth $3,427,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Bayesian Capital Management LP bought a new position in USA Technologies in the first quarter worth approximately $120,000. BlueMountain Capital Management LLC bought a new position in USA Technologies in the second quarter worth approximately $147,000. Fortaleza Asset Management Inc. purchased a new stake in shares of USA Technologies in the second quarter worth approximately $158,000. Diker Management LLC purchased a new stake in shares of USA Technologies in the first quarter worth approximately $315,000. Finally, Cynosure Advisors LLC increased its position in shares of USA Technologies by 52.2% during the first quarter. Cynosure Advisors LLC now owns 36,156 shares of the technology company’s stock valued at $325,000 after acquiring an additional 12,404 shares during the last quarter. Institutional investors own 72.06% of the company’s stock.
A number of equities analysts have recently commented on the company. BidaskClub raised USA Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Zacks Investment Research raised USA Technologies from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Lake Street Capital reissued a “buy” rating and set a $17.00 price objective on shares of USA Technologies in a research note on Wednesday, June 13th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $13.67.
NASDAQ:USAT opened at $14.60 on Thursday. The firm has a market cap of $975.02 million, a P/E ratio of -730.00 and a beta of 0.58. USA Technologies, Inc. has a 52-week low of $5.11 and a 52-week high of $16.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.34 and a quick ratio of 1.08.
USA Technologies Profile
USA Technologies, Inc provides wireless networking, cashless transactions, asset monitoring, and other value-added services in the United States and internationally. It designs and markets systems and solutions that facilitate electronic payment options, as well as telemetry and machine-to-machine (M2M) services.
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