Perkins Capital Management Inc. Sells 255,014 Shares of FlexShopper, Inc. (NASDAQ:FPAY)

Perkins Capital Management Inc. decreased its position in shares of FlexShopper, Inc. (NASDAQ:FPAY) by 40.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 367,736 shares of the financial services provider’s stock after selling 255,014 shares during the quarter. Perkins Capital Management Inc.’s holdings in FlexShopper were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FPAY. Heron Bay Capital Management purchased a new stake in shares of FlexShopper during the 1st quarter worth $43,000. Renaissance Technologies LLC raised its stake in FlexShopper by 30.0% in the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after buying an additional 50,847 shares during the last quarter. Finally, Insigneo Advisory Services LLC purchased a new stake in FlexShopper in the second quarter valued at about $58,000. Institutional investors own 19.41% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.50 price target on shares of FlexShopper in a research note on Wednesday, October 2nd.

Insider Activity

In other news, Director Howard Dvorkin acquired 26,756 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $1.06 per share, with a total value of $28,361.36. Following the completion of the acquisition, the director now owns 4,476,802 shares of the company’s stock, valued at approximately $4,745,410.12. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have bought 58,148 shares of company stock valued at $64,830. Company insiders own 30.20% of the company’s stock.

FlexShopper Stock Performance

FlexShopper stock opened at $1.16 on Thursday. The stock has a 50-day moving average of $1.18 and a two-hundred day moving average of $1.15. The company has a debt-to-equity ratio of 28.90, a quick ratio of 15.78 and a current ratio of 15.78. FlexShopper, Inc. has a one year low of $0.94 and a one year high of $1.95. The stock has a market cap of $24.90 million, a PE ratio of -5.04 and a beta of 1.33.

FlexShopper (NASDAQ:FPAY) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $31.76 million for the quarter, compared to analyst estimates of $31.00 million. FlexShopper had a positive return on equity of 0.77% and a negative net margin of 0.41%. On average, research analysts anticipate that FlexShopper, Inc. will post -0.12 EPS for the current fiscal year.

FlexShopper Profile

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.