Hedge Funds Are Selling USA Technologies, Inc. (USAT)

We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article, we look at what those funds think of USA Technologies, Inc. (NASDAQ:USAT) based on that data.

USA Technologies, Inc. (NASDAQ:USAT) has seen a decrease in support from the world’s most elite money managers recently. USAT was in 5 hedge funds’ portfolios at the end of the third quarter of 2015. There were 6 hedge funds in our database with USAT holdings at the end of the previous quarter. At the end of this article we will also compare USAT to other stocks including Imation Corp. (NYSE:IMN), Eastern Virginia Bankshares, Inc. (NASDAQ:EVBS), and Conatus Pharmaceuticals Inc (NASDAQ:CNAT) to get a better sense of its popularity.

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In the financial world there are a large number of tools stock market investors can use to evaluate their stock investments. Two of the most innovative tools are hedge fund and insider trading activity. Our experts have shown that, historically, those who follow the best picks of the elite fund managers can outpace the broader indices by a solid margin (see the details here).

Keeping this in mind, let’s take a gander at the key action regarding USA Technologies, Inc. (NASDAQ:USAT).

How have hedgies been trading USA Technologies, Inc. (NASDAQ:USAT)?

At Q3’s end, a total of 5 of the hedge funds tracked by Insider Monkey were long this stock, a change of -17% from the second quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Whitebox Advisors, managed by Andy Redleaf, holds the number one position in USA Technologies, Inc. (NASDAQ:USAT). Whitebox Advisors has a $1 million position in the stock, comprising less than 0.1% of its 13F portfolio. Sitting at the No. 2 spot is Keane Capital Management, managed by Peter Keane, which holds a $0.7 million position; 0.9% of its 13F portfolio is allocated to the company. Some other hedge funds and institutional investors that are bullish contain Andy Redleaf’s Whitebox Advisors, Richard Driehaus’s Driehaus Capital and Ken Griffin’s Citadel Investment Group.