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FlexShopper director Howard Dvorkin buys $73,129 in company stock

Published 05/23/2024, 05:36 AM
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In a recent series of transactions, Howard Dvorkin, a director and major shareholder of FlexShopper, Inc. (NASDAQ:FPAY), has increased his stake in the company through the purchase of additional shares worth approximately $73,129. The transactions took place over a span of three consecutive days, with prices ranging from $1.16 to $1.17 per share.

Dvorkin, who is known for his role at FlexShopper, a leader in the equipment rental and leasing industry, made these purchases through a series of transactions that occurred between May 20 and May 22. On the first day, he acquired 17,814 shares at an average price of $1.16. The following day, he added 41,490 shares to his holdings at an average price of $1.17. Finally, on May 22, Dvorkin bought an additional 3,381 shares, again at the average price of $1.16.

These purchases were made in multiple transactions at prices ranging from $1.13 to $1.18, inclusive. The reported prices are weighted averages, and Dvorkin has committed to providing full information regarding the number of shares purchased at each separate price within the ranges upon request.

It's important to note that these shares are held of record by PITA Holdings, LLC, with Dvorkin having a pecuniary interest through Beta Investment Group, Inc., where he serves as President. The reported transactions exclude 1,190,000 shares of FlexShopper's common stock issuable upon the exercise of warrants held by PITA.

With these latest acquisitions, Dvorkin's ownership in FlexShopper has further solidified, reflecting his ongoing confidence in the company's future. Investors and market watchers often look to insider buying patterns as an indicator of a company's health and the faith that executives and directors have in the business's prospects.

InvestingPro Insights

Following Howard Dvorkin's increased investment in FlexShopper, Inc. (NASDAQ:FPAY), current metrics from InvestingPro provide further context to the company's financial landscape. With a market cap of approximately $25.25 million, FlexShopper stands as a relatively small player in the equipment rental and leasing industry. The company's P/E ratio, which is currently at -3, indicates that investors are not valuing the company based on earnings, which aligns with the InvestingPro Tip that analysts do not expect the company to be profitable this year.

The company's stock has seen a 1 Month Price Total Return of 9.35%, which might suggest a recent uptick in investor interest, possibly in relation to insider buying activities. However, the InvestingPro Tips highlight that FlexShopper generally trades with high price volatility and has performed poorly over the last decade, which could be a point of consideration for potential investors.

For those interested in a deeper dive into FlexShopper's financials and stock performance, InvestingPro offers additional insights. Currently, there are 7 more InvestingPro Tips available, which include observations on the company's cash burn rate, free cash flow yield, and dividend payouts. To access these insights and enhance your investment strategy, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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