Squarepoint Ops LLC trimmed its holdings in FlexShopper, Inc. (NASDAQ:FPAY) by 45.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,564 shares of the financial services provider’s stock after selling 46,503 shares during the quarter. Squarepoint Ops LLC owned about 0.26% of FlexShopper worth $165,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD bought a new position in FlexShopper in the 1st quarter worth approximately $34,000. Goldman Sachs Group Inc. bought a new position in FlexShopper in the 1st quarter worth approximately $37,000. Northern Trust Corp boosted its stake in FlexShopper by 82.9% during the 1st quarter. Northern Trust Corp now owns 25,874 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 11,726 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in FlexShopper during the 1st quarter valued at $78,000. Finally, Geode Capital Management LLC boosted its stake in FlexShopper by 8.4% during the 1st quarter. Geode Capital Management LLC now owns 77,497 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 5,973 shares in the last quarter. 18.87% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised FlexShopper from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 12th.
Shares of NASDAQ FPAY opened at $2.53 on Thursday. The stock has a fifty day moving average price of $2.82 and a two-hundred day moving average price of $2.73. The firm has a market cap of $54.14 million, a P/E ratio of -126.50 and a beta of 1.18. FlexShopper, Inc. has a 1 year low of $1.67 and a 1 year high of $3.95.
FlexShopper (NASDAQ:FPAY) last released its quarterly earnings data on Monday, November 15th. The financial services provider reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. FlexShopper had a negative return on equity of 2.89% and a net margin of 1.81%. During the same quarter last year, the firm posted ($0.02) earnings per share. On average, analysts predict that FlexShopper, Inc. will post -0.1 EPS for the current year.
FlexShopper, In. operates as a holding and financial technology company, which enables consumers utilizing its e-commerce marketplace to shop for brand name electronics, home furnishings, and other durable goods on a lease-to-own basis. Its products include cell phones, televisions, cameras and camcorders, video games, computers and laptops, furniture, smartwatches, matresses, Apple, and Tires.
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