Insider Buying: FlexShopper, Inc. (NASDAQ:FPAY) Director Acquires $15,400.00 in Stock

FlexShopper, Inc. (NASDAQ:FPAY) Director Howard Dvorkin purchased 10,000 shares of the stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $1.54 per share, for a total transaction of $15,400.00. Following the transaction, the director now owns 4,551,558 shares of the company’s stock, valued at approximately $7,009,399.32. The trade was a 0.22 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

FlexShopper Stock Performance

NASDAQ:FPAY opened at $1.71 on Thursday. The stock has a 50 day simple moving average of $1.61 and a 200 day simple moving average of $1.31. The stock has a market cap of $36.70 million, a P/E ratio of -10.06 and a beta of 1.43. FlexShopper, Inc. has a 1-year low of $0.97 and a 1-year high of $2.19. The company has a current ratio of 7.98, a quick ratio of 7.98 and a debt-to-equity ratio of 19.65.

Hedge Funds Weigh In On FlexShopper

A number of hedge funds have recently bought and sold shares of FPAY. Insigneo Advisory Services LLC acquired a new position in FlexShopper in the 2nd quarter valued at $58,000. Renaissance Technologies LLC lifted its position in shares of FlexShopper by 30.0% during the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after buying an additional 50,847 shares during the last quarter. Finally, Waterfall Asset Management LLC acquired a new stake in FlexShopper in the third quarter valued at about $1,678,000. 19.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FPAY has been the topic of a number of recent analyst reports. Maxim Group boosted their target price on FlexShopper from $2.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, November 15th. HC Wainwright reissued a “buy” rating and issued a $2.50 price objective on shares of FlexShopper in a research report on Tuesday, December 24th.

FlexShopper Company Profile

FlexShopper, Inc, a financial technology company, operates an e-commerce marketplace to shop electronics, home furnishings, and other durable goods on a lease-to-own (LTO) basis. The company offers consumer electronics; home appliances; computers, such as tablets and wearables; smartphones; tires; and jewelry and furniture, including accessories.