Waterfall Asset Management LLC Invests $1.68 Million in FlexShopper, Inc. (NASDAQ:FPAY)

Waterfall Asset Management LLC purchased a new position in shares of FlexShopper, Inc. (NASDAQ:FPAY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,629,547 shares of the financial services provider’s stock, valued at approximately $1,678,000. FlexShopper comprises approximately 0.2% of Waterfall Asset Management LLC’s investment portfolio, making the stock its 3rd largest holding. Waterfall Asset Management LLC owned about 0.08% of FlexShopper as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Insigneo Advisory Services LLC acquired a new stake in FlexShopper during the second quarter valued at approximately $58,000. 19.41% of the stock is owned by institutional investors.

FlexShopper Price Performance

FPAY traded down $0.08 on Wednesday, hitting $1.69. 78,116 shares of the company’s stock were exchanged, compared to its average volume of 162,142. The company has a debt-to-equity ratio of 19.65, a current ratio of 7.98 and a quick ratio of 7.98. The stock has a fifty day moving average of $1.30 and a two-hundred day moving average of $1.19. FlexShopper, Inc. has a twelve month low of $0.97 and a twelve month high of $1.95.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FPAY. Maxim Group lifted their target price on FlexShopper from $2.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. HC Wainwright reaffirmed a “buy” rating and issued a $2.50 price objective on shares of FlexShopper in a report on Friday, November 15th.

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.