Flexshopper director Howard Dvorkin buys $30,000 in widespread inventory

Howard Dvorkin, a director and important shareholder of FlexShopper, Inc. (NASDAQ:FPAY), just lately elevated his holdings within the firm. In keeping with the most recent SEC submitting, Dvorkin acquired a complete of 20,000 shares of FlexShopper’s widespread inventory over two days, December 26 and December 27, 2024. The acquisition costs ranged from $1.46 to $1.54 per share, leading to a complete funding of $30,000. The inventory, presently buying and selling at $1.61, has proven important volatility with a 17% acquire over the previous six months. InvestingPro evaluation signifies the corporate is presently buying and selling close to its Truthful Worth, with sturdy liquidity metrics exhibiting present property nicely exceed short-term obligations.

These transactions had been made by means of PITA Holdings, LLC, the place Dvorkin holds a managerial position by means of Beta Funding Group, Inc. Whereas Dvorkin is the president of Beta, he has disclaimed helpful possession of the securities held by PITA aside from his pecuniary curiosity. Following these acquisitions, Dvorkin’s oblique possession in FlexShopper elevated to 4,561,458 shares, excluding further shares issuable upon the train of warrants. InvestingPro subscribers can entry 8 further key insights about FPAY’s monetary well being, valuation metrics, and progress prospects by means of the excellent Professional Analysis Report.

In different latest information, FlexShopper has reported a collection of serious developments. The corporate launched strong monetary outcomes for the third quarter of 2024, with a 23% rise in complete income to $39 million and a forty five% improve in adjusted EBITDA to over $12 million. FlexShopper additionally introduced modifications in its board of administrators, with Sean Hinze resigning and Denis Echtchenko becoming a member of the board. Moreover, the corporate revealed amendments to the employment settlement of CEO H. Russell Heiser Jr., together with a wage improve and adjustment to his goal bonus.

H.C. Wainwright maintained a Purchase ranking on FlexShopper, recognizing the corporate’s sturdy monetary efficiency and progress. The agency’s stance is predicated on FlexShopper’s monetary efficiency for October and November, which confirmed important enhancements over the identical interval in 2023. FlexShopper additionally reported a 15% improve in gross leasing income and a 25% rise in web lease income for the primary two months of the fourth quarter of 2024.

Wanting forward, FlexShopper plans to considerably broaden its business-to-business providing in 2025, aiming to develop its signed retailer rely to 7,800. This enlargement is anticipated to drive further lease originations all through 2025 as the brand new areas turn into operational. The corporate additionally has a pending rights providing and ongoing patent litigation, that are anticipated to contribute positively to earnings and simplify the corporate’s capital construction.

These are latest developments that spotlight FlexShopper’s strong monetary efficiency and strategic progress initiatives. The corporate has seen important progress in its business-to-consumer phase and secured two main partnerships this 12 months. FlexShopper can also be planning AI-driven automation for 2025 to additional improve cost efficiency and servicing capabilities.

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