Voss Capital, Lp Sells 25,000 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 25,000 shares of Flywire stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $18.86, for a total value of $471,500.00. Following the completion of the sale, the insider directly owned 11,500,000 shares of the company’s stock, valued at approximately $216,890,000. This trade represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 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 Price Performance

Shares of FLYW stock opened at $19.54 on Friday. Flywire Corporation has a 1 year low of $10.55 and a 1 year high of $19.59. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 75.16, a PEG ratio of 1.20 and a beta of 1.34. The company’s fifty day simple moving average is $17.40 and its two-hundred day simple moving average is $14.73.

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

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of FLYW. Wasatch Advisors LP purchased a new stake in Flywire in the second quarter worth approximately $44,026,000. Wellington Management Group LLP lifted its position in shares of Flywire by 173.3% during the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after buying an additional 2,129,514 shares in the last quarter. Voss Capital LP boosted its position in shares of Flywire by 21.5% in the fourth 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 during the period. Jennison Associates LLC boosted its holdings in Flywire by 35.2% in the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after buying an additional 1,150,802 shares during the period. Finally, Cooper Creek Partners Management LLC bought a new position in shares of Flywire in the third quarter worth about $15,433,000. Institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. New Street Research set a $16.00 price objective on shares of Flywire in a research report on Thursday, May 21st. Truist Financial increased their price objective on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, August 14th. The Goldman Sachs Group reissued a “neutral” rating and issued a $22.00 target price on shares of Flywire in a research note on Wednesday, August 5th. B. Riley Financial boosted their price objective on shares of Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings downgraded Flywire from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.54.

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.