FlexShopper, Inc. (NASDAQ:FPAY) CEO Acquires $43,500.00 in Stock

FlexShopper, Inc. (NASDAQ:FPAY) CEO Harold Russell Jr. Heiser bought 30,000 shares of FlexShopper stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $1.45 per share, with a total value of $43,500.00. Following the completion of the purchase, the chief executive officer now directly owns 969,874 shares in the company, valued at $1,406,317.30. This trade represents a 3.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

FlexShopper Price Performance

Shares of NASDAQ:FPAY opened at $1.71 on Thursday. The stock has a market cap of $36.70 million, a price-to-earnings ratio of -10.06 and a beta of 1.43. The company has a debt-to-equity ratio of 19.65, a current ratio of 7.98 and a quick ratio of 7.98. FlexShopper, Inc. has a 12 month low of $0.97 and a 12 month high of $2.19. The stock’s 50 day moving average price is $1.61 and its 200 day moving average price is $1.31.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FPAY shares. 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. HC Wainwright reissued a “buy” rating and set a $2.50 target price on shares of FlexShopper in a research note on Tuesday, December 24th.

Institutional Trading of FlexShopper

Hedge funds and other institutional investors have recently modified their holdings of the company. Insigneo Advisory Services LLC bought a new stake in FlexShopper during the second quarter worth approximately $58,000. Renaissance Technologies LLC lifted its position 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 valued at $282,000 after acquiring an additional 50,847 shares during the last quarter. Finally, Waterfall Asset Management LLC acquired a new stake in shares of FlexShopper during the 3rd quarter valued at $1,678,000. 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.