Flywire (NASDAQ:FLYW) Major Shareholder Sells $1,776,159.57 in Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 93,927 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $18.91, for a total transaction of $1,776,159.57. Following the sale, the insider directly owned 366,617 shares of the company’s stock, valued at approximately $6,932,727.47. The trade was a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 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 26th, Voss Capital, Lp sold 26,094 shares of Flywire stock. The stock was sold at an average price of $18.99, for a total transaction of $495,525.06.
• On Tuesday, August 25th, Voss Capital, Lp sold 172,973 shares of Flywire stock. The shares were sold at an average price of $19.19, for a total transaction of $3,319,351.87.
• 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 value 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 value 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 value of $1,458,030.00.

Flywire Price Performance

Shares of Flywire stock opened at $18.79 on Monday. Flywire Corporation has a 52 week low of $10.55 and a 52 week high of $19.73. The business has a 50 day moving average price of $17.73 and a 200-day moving average price of $15.03. The company has a market cap of $2.29 billion, a PE ratio of 72.27, a price-to-earnings-growth ratio of 1.20 and a beta of 1.34.

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

Institutional Investors Weigh In On Flywire

Several large investors have recently made changes to their positions in the business. Nykredit A S bought a new position in Flywire during the second quarter valued at about $29,000. Global Retirement Partners LLC bought a new stake in Flywire in the fourth quarter worth about $32,000. Essential Partners LLC boosted its stake in Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares during the last quarter. KBC Group NV purchased a new position in Flywire in the first quarter valued at about $38,000. Finally, Leonteq Securities AG grew its position in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after acquiring an additional 2,577 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FLYW. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of Flywire from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. New Street Research set a $16.00 price objective on shares of Flywire in a research note on Thursday, May 21st. Seaport Research Partners reiterated a “buy” rating and issued a $22.00 price objective on shares of Flywire in a research note on Monday, August 17th. Finally, BTIG Research reissued a “buy” rating and set a $20.00 target price on shares of Flywire in a research report on Tuesday, July 21st. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently 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.