FlexShopper (FPAY) Shares Up 8.2%

FlexShopper Inc (NASDAQ:FPAY)’s share price shot up 8.2% during trading on Friday . The stock traded as high as $0.95 and last traded at $0.92. 731,700 shares traded hands during trading, an increase of 379% from the average session volume of 152,783 shares. The stock had previously closed at $0.85.

FlexShopper (NASDAQ:FPAY) last posted its earnings results on Monday, August 6th. The financial services provider reported ($0.48) EPS for the quarter. The company had revenue of $19.08 million during the quarter.

In other FlexShopper news, CEO Brad Mitchell Bernstein purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The stock was purchased at an average cost of $1.00 per share, with a total value of $50,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Douglas Allen purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The shares were acquired at an average cost of $1.00 per share, with a total value of $100,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 379,482 shares of company stock valued at $349,991 in the last 90 days. 15.10% of the stock is owned by corporate insiders.

A hedge fund recently bought a new stake in FlexShopper stock. Massey Quick Simon & CO. LLC purchased a new stake in shares of FlexShopper Inc (NASDAQ:FPAY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 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 reporting period. 9.94% of the stock is owned by hedge funds and other institutional investors.

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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