Flywire (NASDAQ:FLYW) Major Shareholder Voss Capital, Lp Sells 101,300 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 101,300 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $19.49, for a total transaction of $1,974,337.00. Following the sale, the insider owned 372,846 shares in the company, valued at approximately $7,266,768.54. This trade represents a 21.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 Tuesday, August 25th, Voss Capital, Lp sold 172,973 shares of Flywire stock. The stock was sold at an average price of $19.19, for a total transaction of $3,319,351.87.
• 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 value 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 value of $1,458,030.00.

Flywire Stock Down 1.9%

Shares of FLYW stock opened at $18.84 on Thursday. The business has a 50-day moving average price of $17.61 and a two-hundred day moving average price of $14.92. Flywire Corporation has a 12-month low of $10.55 and a 12-month high of $19.73. The firm has a market cap of $2.29 billion, a P/E ratio of 72.46, a price-to-earnings-growth ratio of 1.23 and a beta of 1.34.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FLYW. BTIG Research restated a “buy” rating and issued a $20.00 price objective on shares of Flywire in a report on Tuesday, July 21st. Wolfe Research lifted their target price on shares of Flywire from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday. Seaport Research Partners reissued a “buy” rating and issued a $22.00 price target on shares of Flywire in a research note on Monday, August 17th. Truist Financial upped their price target 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. Finally, Wall Street Zen cut Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.85.

Institutional Trading of Flywire

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of Flywire by 13.6% in the fourth quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock worth $128,000 after buying an additional 1,081 shares during the period. Essential Partners LLC boosted its position 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 buying an additional 1,571 shares during the period. Nykredit A S purchased a new position in shares of Flywire in the second quarter valued at about $29,000. Global Retirement Partners LLC bought a new position in shares of Flywire during the fourth quarter valued at about $32,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after purchasing an additional 2,497 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Flywire

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.