Insider Selling: Flywire (NASDAQ:FLYW) Major Shareholder Sells $3,319,351.87 in Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 172,973 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the completion of the transaction, the insider owned 369,168 shares of the company’s stock, valued at approximately $7,084,333.92. This represents a 31.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major 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 Thursday, August 27th, Voss Capital, Lp sold 93,927 shares of Flywire stock. The shares were sold at an average price of $18.91, for a total transaction of $1,776,159.57.
• On Wednesday, August 26th, Voss Capital, Lp sold 26,094 shares of Flywire stock. The shares were sold at an average price of $18.99, for a total transaction of $495,525.06.
• On Monday, August 24th, Voss Capital, Lp sold 101,300 shares of Flywire stock. The shares were sold at an average price of $19.49, for a total transaction of $1,974,337.00.
• On Wednesday, August 19th, Voss Capital, Lp sold 25,000 shares of Flywire stock. The stock was sold at an average price of $18.86, for a total transaction of $471,500.00.
• On Tuesday, August 18th, Voss Capital, Lp sold 79,500 shares of Flywire stock. The stock was sold at an average price of $18.34, for a total transaction of $1,458,030.00.

Flywire Stock Up 0.5%

Shares of FLYW opened at $18.79 on Friday. The company has a 50-day moving average price of $17.73 and a two-hundred day moving average price of $15.00. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 72.27, a P/E/G ratio of 1.20 and a beta of 1.34. Flywire Corporation has a 12 month low of $10.55 and a 12 month high of $19.73.

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

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently modified their holdings of FLYW. California State Teachers Retirement System lifted its holdings in Flywire by 1,334.6% during the 2nd quarter. California State Teachers Retirement System now owns 2,103,094 shares of the company’s stock worth $36,951,000 after buying an additional 1,956,492 shares in the last quarter. Nykredit A S bought a new position in Flywire in the 2nd quarter valued at $29,000. Ancora Advisors LLC acquired a new stake in shares of Flywire in the 2nd quarter valued at $176,000. Wellington Management Group LLP increased its stake in shares of Flywire by 1.2% in the 2nd 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 period. Finally, Globeflex Capital L P bought a new stake in shares of Flywire during the second quarter worth $247,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FLYW shares. Zacks Research cut Flywire from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. BTIG Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of Flywire in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Seaport Research Partners reissued a “buy” rating and set a $22.00 price target on shares of Flywire in a report on Monday, August 17th. Finally, Citigroup restated a “neutral” rating on shares of Flywire in a research report on Thursday, August 6th. Eight research 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 stock currently has a consensus rating of “Hold” and an average price target of $19.85.

Flywire Company Profile

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.