Flywire (NASDAQ:FLYW) Major Shareholder Buys $640,221.93 in Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp acquired 44,991 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were purchased at an average price of $14.23 per share, for a total transaction of $640,221.93. Following the purchase, the insider directly owned 9,670,000 shares of the company’s stock, valued at $137,604,100. This represents a 0.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, December 30th, Voss Capital, Lp bought 181,121 shares of Flywire stock. The stock was purchased at an average price of $14.15 per share, with a total value of $2,562,862.15.

Flywire Stock Performance

FLYW traded down $0.20 during trading hours on Wednesday, hitting $14.50. 2,533,209 shares of the stock were exchanged, compared to its average volume of 1,349,102. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -724.64, a price-to-earnings-growth ratio of 1.52 and a beta of 1.28. The stock has a 50-day simple moving average of $13.95 and a 200-day simple moving average of $12.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.53. Flywire Corporation has a 12 month low of $8.20 and a 12 month high of $21.31.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $194.10 million during the quarter, compared to analyst estimates of $180.07 million. Flywire had a negative net margin of 0.42% and a positive return on equity of 0.80%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Analysts anticipate that Flywire Corporation will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of Flywire by 2.3% in the first quarter. Rhumbline Advisers now owns 169,553 shares of the company’s stock valued at $1,611,000 after buying an additional 3,732 shares in the last quarter. Norges Bank bought a new stake in shares of Flywire during the 2nd quarter worth $2,334,000. Walleye Capital LLC grew its holdings in shares of Flywire by 206.0% in the 2nd quarter. Walleye Capital LLC now owns 462,665 shares of the company’s stock worth $5,413,000 after acquiring an additional 311,448 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new stake in shares of Flywire during the second quarter worth $421,000. Finally, First Eagle Investment Management LLC purchased a new stake in shares of Flywire during the second quarter valued at $1,363,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Flywire from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Flywire in a research report on Wednesday, October 8th. Citigroup upgraded Flywire to a “hold” rating in a research report on Thursday, October 23rd. Truist Financial increased their price target on Flywire from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Zacks Research upgraded shares of Flywire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flywire presently has an average rating of “Hold” and an average price target of $14.81.

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.