FlexShopper (NASDAQ:FPAY – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “FlexShopper, Inc. operates as a holding company. It is engaged in developing a business that will provide certain categories of durable goods to consumers on a lease to own basis. It offers accounts receivable funding; purchase order finance; outsourcing of accounts receivable management, including collections and the risk of customer default; and other specialty finance products, such as trade finance and government contract funding. FlexShopper, Inc., formerly known as Anchor Funding Services, Inc., is headquartered in Charlotte, North Carolina. “

A number of other analysts have also recently issued reports on the company. Maxim Group lowered their price objective on FlexShopper to $2.00 and set a “na” rating on the stock in a research report on Tuesday, May 17th. HC Wainwright lowered their price target on FlexShopper from $4.00 to $2.50 in a research report on Monday, May 16th.

Shares of FPAY traded up $0.01 on Monday, reaching $1.21. 4 shares of the stock traded hands, compared to its average volume of 57,537. The firm has a market cap of $26.14 million, a price-to-earnings ratio of -15.12 and a beta of 1.45. FlexShopper has a 12 month low of $0.83 and a 12 month high of $3.82. The stock’s 50-day moving average price is $1.33 and its 200-day moving average price is $1.78.

In related news, Director Howard Dvorkin purchased 33,064 shares of the stock in a transaction on Thursday, May 19th. The shares were purchased at an average cost of $1.20 per share, for a total transaction of $39,676.80. Following the completion of the transaction, the director now directly owns 3,714,312 shares of the company’s stock, valued at approximately $4,457,174.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 30.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Advisor Group Holdings Inc. grew its holdings in shares of FlexShopper by 91.1% during the third quarter. Advisor Group Holdings Inc. now owns 14,420 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 6,873 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of FlexShopper by 50.5% during the second quarter. Wells Fargo & Company MN now owns 21,730 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 7,296 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of FlexShopper by 24.4% during the third quarter. Two Sigma Advisers LP now owns 86,200 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 16,900 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of FlexShopper during the third quarter worth $54,000. Finally, Two Sigma Securities LLC bought a new stake in shares of FlexShopper during the third quarter worth $61,000. Institutional investors own 15.75% of the company’s stock.

FlexShopper Company Profile (Get Rating)

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. It offers durable products, including consumer electronics; home appliances; computers, including tablets and wearables; smartphones; tires; and jewelry and furniture, such as accessories.

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