Benchmark Financial Wealth Advisors LLC Sells 34,001 Shares of FlexShopper, Inc. (NASDAQ:FPAY)

Benchmark Financial Wealth Advisors LLC lessened its holdings in FlexShopper, Inc. (NASDAQ:FPAY) by 15.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,977 shares of the financial services provider’s stock after selling 34,001 shares during the period. Benchmark Financial Wealth Advisors LLC owned about 0.87% of FlexShopper worth $196,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Insigneo Advisory Services LLC bought a new stake in shares of FlexShopper during the 2nd quarter valued at approximately $58,000. Renaissance Technologies LLC boosted its position 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 in the last quarter. Finally, Heron Bay Capital Management bought a new stake in shares of FlexShopper during the first quarter worth $43,000. Institutional investors and hedge funds own 19.41% of the company’s stock.

Analyst Ratings Changes

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.

FlexShopper Stock Up 1.8 %

NASDAQ:FPAY opened at $1.16 on Wednesday. The company has a debt-to-equity ratio of 28.90, a current ratio of 15.78 and a quick ratio of 15.78. FlexShopper, Inc. has a one year low of $0.94 and a one year high of $1.95. The firm’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.15. The company 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 earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. The business had revenue of $31.76 million during 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 earnings per share for the current year.

Insider Transactions at FlexShopper

In related news, Director Howard Dvorkin bought 26,756 shares of FlexShopper stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $1.06 per share, for a total transaction of $28,361.36. Following the completion of the acquisition, the director now directly owns 4,476,802 shares of the company’s stock, valued at approximately $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 the SEC website. Insiders purchased 58,148 shares of company stock worth $64,830 over the last ninety days. 30.20% of the stock is owned by insiders.

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.