In a recent move, Howard Dvorkin, a director and ten percent owner of FlexShopper, Inc. (NASDAQ:FPAY), has increased his stake in the company through the purchase of additional shares. The transactions, which occurred over two consecutive days, signal a bolstering of Dvorkin's investment in the equipment rental and leasing services firm.
On August 13, 2024, Dvorkin acquired 26,756 shares at a weighted average price of $1.06. The purchase was part of multiple transactions that ranged from $1.05 to $1.07 per share. The following day, he continued to expand his holdings by buying another 4,613 shares, this time at a slightly higher weighted average price of $1.08, with individual transactions ranging between $1.06 and $1.10.
The total amount invested by Dvorkin across these two days amounted to $33,343, reflecting a notable vote of confidence in FlexShopper's prospects. Following these purchases, Dvorkin's ownership in the company, through indirect means, has reached a total of 4,481,415 shares.
It's worth mentioning that the shares are held of record by PITA Holdings, LLC, managed by Beta Investment Group, Inc., where Dvorkin serves as President. While he disclaims beneficial ownership of the securities held by PITA, except to the extent of his pecuniary interest, the transactions still represent a significant commitment to FlexShopper.
As investors observe the activities of company insiders, such transactions can often be interpreted as a signal of the insider's belief in the company's future performance. With Dvorkin's latest purchases, market watchers may take note of FlexShopper's potential trajectory as seen through the eyes of one of its significant stakeholders.
InvestingPro Insights
Amidst the recent insider buying activity at FlexShopper, Inc. (NASDAQ:FPAY), the broader financial metrics provide additional context for investors. FlexShopper's Market Cap stands at approximately $24.43 million, a valuation that reflects the size of the company within the equipment rental and leasing sector. Despite a challenging profitability outlook, as analysts do not expect the company to turn a profit this year, the company's Revenue Growth remains robust, with an increase of 23.81% over the last twelve months as of Q2 2024.
One of the noteworthy InvestingPro Tips highlights that FlexShopper has experienced a significant return over the last week, with a price total return of 7.62%. This could be indicative of market reactions to insider transactions or other company-specific news. Meanwhile, another InvestingPro Tip indicates that the company's liquid assets exceed short-term obligations, suggesting a solid short-term financial position.
Investors may also consider the Price / Book ratio, which currently stands at 5.11, suggesting that the market values the company at over five times its book value. This metric, along with others, is part of a comprehensive set of additional InvestingPro Tips available to users seeking deeper insights into FlexShopper's financial health and market position.
For those interested in a more detailed analysis, there are further InvestingPro Tips available, providing a richer understanding of FlexShopper's financial landscape and potential investment opportunities.
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