Perkins Capital Management Inc. Reduces Stock Holdings in FlexShopper, Inc. (NASDAQ:FPAY)

Perkins Capital Management Inc. decreased its stake in FlexShopper, Inc. (NASDAQ:FPAY) by 40.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 367,736 shares of the financial services provider’s stock after selling 255,014 shares during the quarter. Perkins Capital Management Inc. owned about 1.69% of FlexShopper worth $379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FPAY. Heron Bay Capital Management purchased a new position in shares of FlexShopper in the 1st quarter worth approximately $43,000. Renaissance Technologies LLC boosted its holdings in 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 period. Finally, Insigneo Advisory Services LLC purchased a new position in FlexShopper during the 2nd quarter valued at $58,000. Hedge funds and other institutional investors own 19.41% of the company’s stock.

Insider Buying and Selling at FlexShopper

In other FlexShopper news, Director Howard Dvorkin acquired 26,756 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $1.06 per share, with a total value of $28,361.36. Following the transaction, the director now directly owns 4,476,802 shares of the company’s stock, valued at $4,745,410.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired 58,148 shares of company stock valued at $64,830 in the last quarter. 30.20% of the stock is owned by insiders.

FlexShopper Stock Performance

Shares of FlexShopper stock opened at $1.16 on Thursday. The stock’s fifty day moving average is $1.18 and its two-hundred day moving average is $1.15. The company has a market capitalization of $24.90 million, a PE ratio of -5.04 and a beta of 1.33. The company has a quick ratio of 15.78, a current ratio of 15.78 and a debt-to-equity ratio of 28.90. FlexShopper, Inc. has a 52 week low of $0.94 and a 52 week high of $1.95.

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

Analyst Ratings Changes

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

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.