FlexShopper (NASDAQ:FPAY) Shares Up 5%

FlexShopper Inc (NASDAQ:FPAY)’s stock price shot up 5% on Thursday . The stock traded as high as $1.69 and last traded at $1.68, 168,200 shares traded hands during trading. A decline of 26% from the average session volume of 227,076 shares. The stock had previously closed at $1.60.

The firm has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.04.

FlexShopper (NASDAQ:FPAY) last released its earnings results on Monday, August 12th. The financial services provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. The business had revenue of $20.66 million for the quarter.

In other FlexShopper news, Director Howard Dvorkin bought 61,119 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average cost of $1.05 per share, for a total transaction of $64,174.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 28.20% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in FlexShopper by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 251,774 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 11,300 shares in the last quarter. Perkins Capital Management Inc. raised its holdings in FlexShopper by 54.1% in the 1st quarter. Perkins Capital Management Inc. now owns 766,000 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 269,000 shares in the last quarter. Virtu Financial LLC bought a new position in FlexShopper in the 1st quarter worth $47,000. Finally, Geode Capital Management LLC bought a new position in FlexShopper in the 4th quarter worth $46,000. Institutional investors and hedge funds own 8.05% of the company’s stock.

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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