Voss Capital, Lp Sells 172,973 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 172,973 shares of the company’s 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 sale, the insider owned 369,168 shares of the company’s stock, valued at approximately $7,084,333.92. This trade represents a 31.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, August 24th, Voss Capital, Lp sold 101,300 shares of Flywire stock. The stock was 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 shares were 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 shares were sold at an average price of $18.34, for a total transaction of $1,458,030.00.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $18.70 on Friday. Flywire Corporation has a one year low of $10.55 and a one year high of $19.73. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 71.93, a PEG ratio of 1.21 and a beta of 1.34. The company has a 50-day simple moving average of $17.67 and a 200-day simple moving average of $14.97.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Truist Financial boosted their target price on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a report on Friday, August 14th. BTIG Research reaffirmed a “buy” rating and set a $20.00 price target on shares of Flywire in a report on Tuesday, July 21st. Citigroup reiterated a “neutral” rating on shares of Flywire in a research report on Thursday, August 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $22.00 price objective on shares of Flywire in a research note on Wednesday, August 5th. Finally, UBS Group upped their price objective on shares of Flywire from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.85.

Institutional Trading of Flywire

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its position in Flywire by 110.8% in the first quarter. Renaissance Technologies LLC now owns 887,200 shares of the company’s stock worth $10,327,000 after acquiring an additional 466,300 shares in the last quarter. Voss Capital LP boosted its position in shares of Flywire by 21.5% during the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after purchasing an additional 2,080,202 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Flywire by 372.4% during the 4th quarter. AlphaQuest LLC now owns 105,448 shares of the company’s stock worth $1,493,000 after purchasing an additional 83,128 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Flywire by 35.2% during the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after purchasing an additional 1,150,802 shares during the period. Finally, North Reef Capital Management LP grew its stake in shares of Flywire by 83.3% during the 1st quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company’s stock worth $12,804,000 after purchasing an additional 499,999 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

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.