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

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

FlexShopper Stock Up 7.3 %

Shares of FlexShopper stock opened at $1.61 on Tuesday. The company has a current ratio of 7.98, a quick ratio of 7.98 and a debt-to-equity ratio of 19.65. FlexShopper, Inc. has a 12-month low of $0.97 and a 12-month high of $2.19. The company has a market cap of $34.55 million, a P/E ratio of -9.47 and a beta of 1.43. The company’s fifty day simple moving average is $1.60 and its two-hundred day simple moving average is $1.30.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FPAY shares. HC Wainwright reiterated a “buy” rating and set a $2.50 target price on shares of FlexShopper in a report on Tuesday, December 24th. Maxim Group increased their price objective on FlexShopper from $2.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

Hedge Funds Weigh In On FlexShopper

Several hedge funds and other institutional investors have recently modified their holdings of FPAY. Waterfall Asset Management LLC purchased a new stake in FlexShopper in the third quarter worth about $1,678,000. Renaissance Technologies LLC grew its holdings in shares of FlexShopper by 30.0% during the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 50,847 shares during the period. Finally, Insigneo Advisory Services LLC raised its position in shares of FlexShopper by 33.3% in the 3rd quarter. Insigneo Advisory Services LLC now owns 60,000 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 19.41% of the company’s stock.

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.