Perkins Capital Management Inc. Sells 40,000 Shares of Usio, Inc. (NASDAQ:USIO)

Perkins Capital Management Inc. cut its holdings in Usio, Inc. (NASDAQ:USIO) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 982,193 shares of the company’s stock after selling 40,000 shares during the period. Usio accounts for 1.2% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 25th biggest position. Perkins Capital Management Inc.’s holdings in Usio were worth $1,336,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Creative Planning purchased a new stake in shares of Usio during the third quarter worth $58,000. Perritt Capital Management Inc raised its stake in shares of Usio by 35.7% during the 2nd quarter. Perritt Capital Management Inc now owns 380,000 shares of the company’s stock valued at $581,000 after purchasing an additional 100,000 shares during the period. Finally, Whittier Trust Co. purchased a new stake in Usio during the 3rd quarter worth about $3,821,000. 20.23% of the stock is currently owned by hedge funds and other institutional investors.

Usio Stock Performance

Shares of USIO opened at $1.40 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $1.42 and a 200-day moving average price of $1.49. The company has a market cap of $38.31 million, a PE ratio of -28.00 and a beta of 1.70. Usio, Inc. has a 12-month low of $1.30 and a 12-month high of $2.00.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Usio in a report on Friday, August 16th.

Usio Profile

Usio, Inc, together with its subsidiaries, provides integrated electronic payment processing services to merchants and businesses in the United States. The company offers various types of automated clearing house (ACH) processing; and credit, prepaid card, and debit card-based processing services. Its ACH transaction processing services include Represented Check and Check Conversion for electronic payment facilitation.