Zacks Investment Research Lowers FlexShopper (NASDAQ:FPAY) to Sell

Zacks Investment Research lowered shares of FlexShopper (NASDAQ:FPAYGet Rating) from a hold rating to a sell rating in a research note released on Friday, Zacks.com reports.

According to Zacks, “FlexShopper, Inc. operates as a holding company. It is engaged in developing a business that will provide certain categories of durable goods to consumers on a lease to own basis. It offers accounts receivable funding; purchase order finance; outsourcing of accounts receivable management, including collections and the risk of customer default; and other specialty finance products, such as trade finance and government contract funding. FlexShopper, Inc., formerly known as Anchor Funding Services, Inc., is headquartered in Charlotte, North Carolina. “

Shares of NASDAQ FPAY remained flat at $$0.87 during mid-day trading on Friday. 132,984 shares of the stock were exchanged, compared to its average volume of 28,783. FlexShopper has a 1-year low of $0.83 and a 1-year high of $3.82. The firm has a market capitalization of $18.80 million, a PE ratio of -10.88 and a beta of 1.45. The stock has a fifty day simple moving average of $1.41 and a 200 day simple moving average of $1.90.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP increased its position in FlexShopper by 24.4% during the third quarter. Two Sigma Advisers LP now owns 86,200 shares of the financial services provider’s stock worth $267,000 after buying an additional 16,900 shares during the last quarter. Marshall Wace LLP increased its position in FlexShopper by 58.1% during the fourth quarter. Marshall Wace LLP now owns 63,760 shares of the financial services provider’s stock worth $149,000 after buying an additional 23,443 shares during the last quarter. Dimensional Fund Advisors LP increased its position in FlexShopper by 135.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 42,891 shares of the financial services provider’s stock worth $101,000 after buying an additional 24,666 shares during the last quarter. Wells Fargo & Company MN increased its position in FlexShopper by 165.7% during the fourth quarter. Wells Fargo & Company MN now owns 40,092 shares of the financial services provider’s stock worth $94,000 after buying an additional 25,000 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in FlexShopper during the third quarter worth $93,000. 15.75% of the stock is currently owned by institutional investors and hedge funds.

About FlexShopper (Get Rating)

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. It offers durable products, including consumer electronics; home appliances; computers, including tablets and wearables; smartphones; tires; and jewelry and furniture, such as accessories.

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