Insider Selling: Flywire (NASDAQ:FLYW) Major Shareholder Sells $1,458,030.00 in Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 79,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $18.34, for a total value of $1,458,030.00. Following the transaction, the insider owned 2,250,000 shares of the company’s stock, valued at $41,265,000. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Voss Capital, Lp also recently made the following trade(s):

• On Wednesday, August 19th, Voss Capital, Lp sold 25,000 shares of Flywire stock. The shares were sold at an average price of $18.86, for a total transaction of $471,500.00.

Flywire Stock Performance

Shares of FLYW opened at $19.54 on Friday. The stock has a market capitalization of $2.38 billion, a PE ratio of 75.16, a P/E/G ratio of 1.25 and a beta of 1.34. The company’s fifty day moving average is $17.40 and its 200 day moving average is $14.73. Flywire Corporation has a fifty-two week low of $10.55 and a fifty-two week high of $19.59.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a return on equity of 4.08% and a net margin of 4.77%.The business had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $156.47 million. During the same period in the previous year, the business earned ($0.10) earnings per share. The business’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, research analysts forecast that Flywire Corporation will post 0.4 earnings per share for the current year.

Hedge Funds Weigh In On Flywire

A number of large investors have recently made changes to their positions in the company. Nykredit A S bought a new position in Flywire during the 2nd quarter valued at about $29,000. Ancora Advisors LLC purchased a new position in shares of Flywire during the second quarter valued at approximately $176,000. Wellington Management Group LLP grew its stake in shares of Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock valued at $93,834,000 after buying an additional 64,998 shares during the last quarter. Globeflex Capital L P bought a new position in shares of Flywire during the second quarter valued at approximately $247,000. Finally, Wasatch Advisors LP bought a new position in shares of Flywire during the second quarter valued at approximately $44,026,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial lifted their price target on Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. upgraded Flywire from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Wall Street Zen lowered Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. BTIG Research reiterated a “buy” rating and issued a $20.00 target price on shares of Flywire in a report on Tuesday, July 21st. Finally, Weiss Ratings downgraded Flywire from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.54.

About Flywire

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.