National Services Sells 16,000+ Usio Shares, Signaling Insider Confidence Shift

Insider Selling Intensifies at Usio Inc.

Recent filings under Section 13(b) reveal that National Services, Inc., a long‑time shareholder of Usio Inc., completed the sale of 7,484 shares on 22 January 2026 and an additional 8,961 shares on 23 January 2026. The transactions were executed at approximately $1.35 per share, the same price at which the stock closed on those days. The cumulative divestiture of more than 16,000 shares within a single week signals a tightening position by a major institutional holder.

Implications for Investors

Historically, National Services has exhibited a pattern of both substantial purchases and sales, typically trading in the 7,000–17,000‑share range at prices near the prevailing market level. The recent back‑to‑back sales represent the most aggressive outflow during a period of relative market quietness. For market participants, this activity may reflect a rebalancing of holdings in anticipation of a longer‑term view or a reaction to recent negative earnings that have pushed the stock’s price‑to‑earnings ratio into the –69 range. While the sales are modest in dollar terms, they could exert downward pressure on the share price if other insiders follow suit. The absence of any announced corporate action or earnings report suggests that the moves are likely driven by portfolio management considerations rather than fundamental shifts in the company’s business.

National Services, Inc.: A Brief Profile

Over the last 18 months, National Services has executed a series of large‑volume trades, often buying in the $1.90–$2.10 range in mid‑2023 and selling in the $1.30–$1.40 range in late 2025 and early 2026. The firm’s transaction style aligns with that of an active institutional investor, using the market to adjust exposure in line with its investment thesis. Holdings have hovered between 2.5 million and 3.0 million shares, representing a significant but non‑controlling stake in Usio. The recent sales coincide with a period of weak earnings and a declining share price, indicating a cautious stance on the company’s near‑term prospects.

Usio’s Broader Narrative

Usio’s business model—integrated payment solutions for software companies, merchants, and banks—has been under pressure from macro‑economic headwinds and intensified competition. The company’s negative earnings and a price‑to‑earnings ratio of –69.07 underscore the challenges it faces. Insider activity that increases liquidity for other shareholders, while potentially eroding price momentum, also provides a window for new investors to enter at lower valuations. Analysts will be watching to see if the current sell‑off is followed by a stabilization or a rebound as the company addresses its profitability gap.

Bottom Line for Market Participants

The recent insider sales by National Services serve as a cautionary signal for risk‑averse investors, especially given the broader negative earnings environment. Conversely, they may present buying opportunities for those willing to navigate short‑term volatility. As Usio navigates a challenging earnings cycle, the next few weeks will be critical to determine whether insiders maintain a bearish stance or re‑enter the market as valuation pressures ease.