Insider Buying: FlexShopper, Inc. (NASDAQ:FPAY) CEO Purchases 30,000 Shares of Stock

FlexShopper, Inc. (NASDAQ:FPAY) CEO Harold Russell Jr. Heiser purchased 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $1.45 per share, for a total transaction of $43,500.00. Following the purchase, the chief executive officer now owns 969,874 shares in the company, valued at $1,406,317.30. This trade represents a 3.19 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

FlexShopper Stock Performance

NASDAQ FPAY traded up $0.11 on Monday, reaching $1.61. The stock had a trading volume of 175,314 shares, compared to its average volume of 74,092. The company has a debt-to-equity ratio of 19.65, a current ratio of 7.98 and a quick ratio of 7.98. The company has a market cap of $34.55 million, a P/E ratio of -9.47 and a beta of 1.43. The firm has a fifty day moving average of $1.60 and a two-hundred day moving average of $1.30. FlexShopper, Inc. has a 1-year low of $0.97 and a 1-year high of $2.19.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FPAY. Maxim Group increased their price objective on shares of FlexShopper from $2.00 to $4.00 and gave the company a “buy” rating in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $2.50 price objective on shares of FlexShopper in a research report on Tuesday, December 24th.

Hedge Funds Weigh In On FlexShopper

Institutional investors and hedge funds have recently modified their holdings of the business. Insigneo Advisory Services LLC acquired a new stake in FlexShopper in the 2nd quarter worth about $58,000. Renaissance Technologies LLC raised its position in shares of FlexShopper by 30.0% in the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after buying an additional 50,847 shares in the last quarter. Finally, Waterfall Asset Management LLC acquired a new stake in shares of FlexShopper in the third quarter valued at approximately $1,678,000. 19.41% of the stock is currently owned by institutional investors and hedge funds.

About FlexShopper

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