FlexShopper Inc (NASDAQ:FPAY)’s share price traded up 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. 833,146 shares were traded during mid-day trading, an increase of 401% from the average session volume of 166,382 shares. The stock had previously closed at $0.73.
Specifically, CEO Brad Mitchell Bernstein bought 50,000 shares of the business’s stock in a transaction on Friday, September 28th. The stock was bought at an average price of $1.00 per share, with a total value of $50,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Howard Dvorkin bought 90,114 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were acquired at an average cost of $0.73 per share, with a total value of $65,783.22. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 469,596 shares of company stock valued at $415,774. 15.10% of the stock is owned by insiders.
FlexShopper (NASDAQ:FPAY) last issued its quarterly earnings data on Monday, November 5th. The financial services provider reported ($0.56) earnings per share for the quarter. The firm had revenue of $21.01 million during the quarter.
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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.
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