FlexShopper (FPAY) Trading 8.2% Higher After Insider Buying Activity
FlexShopper Inc (NASDAQ:FPAY) shares traded up 8.2% on Friday following insider buying activity. The stock traded as high as $0.82 and last traded at $0.79. 833,146 shares were traded during trading, an increase of 401% from the average session volume of 166,382 shares. The stock had previously closed at $0.73.
Specifically, CEO Brad Mitchell Bernstein acquired 50,000 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were purchased at an average price of $1.00 per share, for a total transaction of $50,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ravi Radhakrishnan acquired 90,000 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were bought at an average price of $1.00 per share, for a total transaction of $90,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 469,596 shares of company stock worth $415,774. 15.10% of the stock is owned by company insiders.
FlexShopper (NASDAQ:FPAY) last announced its quarterly earnings data on Monday, November 5th. The financial services provider reported ($0.56) earnings per share for the quarter. The firm had revenue of $21.01 million for the quarter.
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About FlexShopper (NASDAQ:FPAY)
FlexShopper, Inc, through its wholly owned subsidiary, FlexShopper, LLC, provides various types of durable goods to consumers on a lease-to-own basis (LTO) to consumers of third party retailers and e-tailers. It offers products through FlexShopper.com, an LTO e-commerce marketplace; e-commerce sites and in-store terminals by utilizing FlexShopper's LTO payment method; and facilitation of LTO transactions with retailers.
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