FlexShopper (FPAY) Stock Price Up 8.2% Following Insider Buying Activity

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Shares of FlexShopper Inc (NASDAQ:FPAY) rose 8.2% on Friday after an insider bought additional shares in the company. The company traded as high as $0.82 and last traded at $0.79. Approximately 833,146 shares changed hands during trading, an increase of 401% from the average daily volume of 166,382 shares. The stock had previously closed at $0.73.

Specifically, CEO Brad Mitchell Bernstein bought 50,000 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $50,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Howard Dvorkin bought 90,114 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were acquired at an average price of $0.73 per share, for a total transaction of $65,783.22. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 469,596 shares of company stock worth $415,774. Corporate insiders own 15.10% of the company’s stock.

FlexShopper (NASDAQ:FPAY) last announced its earnings results on Monday, November 5th. The financial services provider reported ($0.56) earnings per share (EPS) for the quarter. The firm had revenue of $21.01 million for the quarter.

A hedge fund recently bought a new stake in FlexShopper stock. Massey Quick Simon & CO. LLC bought a new stake in shares of FlexShopper Inc (NASDAQ:FPAY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,864 shares of the financial services provider’s stock, valued at approximately $111,000. Massey Quick Simon & CO. LLC owned approximately 0.64% of FlexShopper at the end of the most recent quarter. Institutional investors own 9.49% of the company’s stock.

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About FlexShopper (NASDAQ:FPAY)

FlexShopper, Inc, through its wholly owned subsidiary, FlexShopper, LLC, provides various types of durable goods to consumers on a lease-to-own basis (LTO) to consumers of third party retailers and e-tailers. It offers products through FlexShopper.com, an LTO e-commerce marketplace; e-commerce sites and in-store terminals by utilizing FlexShopper's LTO payment method; and facilitation of LTO transactions with retailers.

Further Reading: What is an Initial Public Offering (IPO)?

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