Insider Buying: FlexShopper, Inc. (NASDAQ:FPAY) Director Acquires 33,064 Shares of Stock

FlexShopper, Inc. (NASDAQ:FPAY – Get Rating) Director Howard Dvorkin bought 33,064 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The shares were acquired at an average cost of $1.20 per share, with a total value of $39,676.80. Following the transaction, the director now owns 3,714,312 shares in the company, valued at approximately $4,457,174.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ FPAY traded up $0.04 on Monday, reaching $1.24. The company had a trading volume of 19,725 shares, compared to its average volume of 58,667. The firm has a market capitalization of $26.79 million, a PE ratio of -15.50 and a beta of 1.45. The firm has a 50-day moving average of $1.37 and a 200-day moving average of $1.84. FlexShopper, Inc. has a 1 year low of $0.83 and a 1 year high of $3.82.

A number of analysts recently issued reports on FPAY shares. Maxim Group dropped their target price on shares of FlexShopper to $2.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Zacks Investment Research cut FlexShopper from a “hold” rating to a “sell” rating in a report on Thursday. Finally, HC Wainwright decreased their price target on FlexShopper from $4.00 to $2.50 in a report on Monday, May 16th.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its stake in shares of FlexShopper by 91.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 14,420 shares of the financial services provider’s stock valued at $45,000 after buying an additional 6,873 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of FlexShopper during the 3rd quarter valued at approximately $54,000. Citadel Advisors LLC purchased a new position in shares of FlexShopper during the 2nd quarter valued at approximately $59,000. Two Sigma Securities LLC purchased a new position in shares of FlexShopper during the 3rd quarter valued at approximately $61,000. Finally, Wells Fargo & Company MN boosted its stake in shares of FlexShopper by 50.5% during the 2nd quarter. Wells Fargo & Company MN now owns 21,730 shares of the financial services provider’s stock valued at $64,000 after buying an additional 7,296 shares during the last quarter. Institutional investors own 15.75% of the company’s stock.

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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