FlexShopper (NASDAQ:FPAY) Trading Up 4.8% After Insider Buying Activity
FlexShopper Inc (NASDAQ:FPAY) shares were up 4.8% on Friday after an insider bought additional shares in the company. The company traded as high as $1.00 and last traded at $1.00. Approximately 116,339 shares traded hands during trading, a decline of 48% from the average daily volume of 224,728 shares. The stock had previously closed at $0.95.
Specifically, Director Howard Dvorkin bought 32,100 shares of FlexShopper stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $0.94 per share, with a total value of $30,174.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have bought 272,545 shares of company stock worth $232,298. 28.20% of the stock is currently owned by insiders.
Separately, Ascendiant Capital Markets started coverage on FlexShopper in a report on Tuesday, April 9th. They set a “buy” rating and a $3.00 target price on the stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of FlexShopper during the 1st quarter worth $47,000. Geode Capital Management LLC acquired a new stake in FlexShopper in the fourth quarter valued at about $46,000. Finally, Perkins Capital Management Inc. boosted its stake in FlexShopper by 54.1% in the first quarter. Perkins Capital Management Inc. now owns 766,000 shares of the financial services provider’s stock valued at $627,000 after buying an additional 269,000 shares in the last quarter. 10.98% of the stock is currently owned by institutional investors.
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About FlexShopper (NASDAQ:FPAY)
FlexShopper, Inc, through its wholly owned subsidiary, FlexShopper, LLC operates as an online lease-to-own (LTO) retailer and LTO payment solution provider. The company provides residential furniture, consumer electronics, computers, appliances, household accessories, and various other durable goods to consumers on a LTO basis to consumers of third-party retailers and e-tailers.
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