Flywire (NASDAQ:FLYW) Major Shareholder Voss Capital, Lp Sells 44,768 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 44,768 shares of Flywire stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $18.78, for a total value of $840,743.04. Following the transaction, the insider owned 11,069,321 shares of the company’s stock, valued at approximately $207,881,848.38. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 Thursday, August 27th, Voss Capital, Lp sold 93,927 shares of Flywire stock. The stock was sold at an average price of $18.91, for a total value 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 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 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 Flywire stock opened at $18.18 on Wednesday. The firm has a 50-day simple moving average of $17.85 and a two-hundred day simple moving average of $15.13. Flywire Corporation has a fifty-two week low of $10.55 and a fifty-two week high of $19.73. The company has a market cap of $2.21 billion, a P/E ratio of 69.93, a price-to-earnings-growth ratio of 1.21 and a beta of 1.30.

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

Analysts Set New Price Targets

FLYW has been the topic of a number of research analyst reports. Zacks Research cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Flywire from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Truist Financial lifted their target price on shares of Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, August 14th. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.23.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently modified their holdings of the business. Essential Partners LLC grew its stake in Flywire by 219.1% during the 1st 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 in the last quarter. Nykredit A S acquired a new stake in Flywire in the 2nd quarter valued at about $29,000. Global Retirement Partners LLC purchased a new position in Flywire in the 4th quarter worth approximately $32,000. KBC Group NV acquired a new position in shares of Flywire during the 1st quarter worth approximately $38,000. Finally, Leonteq Securities AG boosted its holdings in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after purchasing an additional 2,577 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.