FlexShopper, Inc. (NASDAQ:FPAY – Get Free Report) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 19,700 shares, a decline of 31.6% from the August 31st total of 28,800 shares. Based on an average daily volume of 30,300 shares, the short-interest ratio is presently 0.7 days. Currently, 0.2% of the shares of the stock are sold short.
Insider Activity at FlexShopper
In other FlexShopper news, Director Howard Dvorkin purchased 26,756 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $1.06 per share, for a total transaction of $28,361.36. Following the completion of the transaction, the director now owns 4,476,802 shares of the company’s stock, valued at approximately $4,745,410.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 58,148 shares of company stock worth $64,830 in the last 90 days. Corporate insiders own 36.70% of the company’s stock.
Hedge Funds Weigh In On FlexShopper
A number of hedge funds have recently made changes to their positions in the company. Insigneo Advisory Services LLC purchased a new stake in shares of FlexShopper during the second quarter worth approximately $58,000. Renaissance Technologies LLC lifted its holdings in FlexShopper by 30.0% in the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 50,847 shares in the last quarter. Heron Bay Capital Management acquired a new stake in FlexShopper during the 1st quarter worth $43,000. Finally, Waterfall Asset Management LLC purchased a new stake in shares of FlexShopper during the fourth quarter worth $2,721,000. Institutional investors and hedge funds own 19.41% of the company’s stock.
FlexShopper Price Performance
FlexShopper (NASDAQ:FPAY – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $31.76 million during the quarter, compared to the consensus estimate of $31.00 million. FlexShopper had a negative net margin of 0.41% and a positive return on equity of 0.77%. On average, sell-side analysts anticipate that FlexShopper will post -0.12 earnings per share for the current fiscal year.
FlexShopper Company Profile
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.
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