Flywire (NASDAQ:FLYW) Major Shareholder Sells $1,458,030.00 in Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 79,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $18.34, for a total value of $1,458,030.00. Following the completion of the sale, the insider directly owned 2,250,000 shares of the company’s stock, valued at $41,265,000. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 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 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.

Flywire Stock Up 0.7%

NASDAQ:FLYW traded up $0.13 during trading hours on Thursday, reaching $18.96. 377,904 shares of the company’s stock were exchanged, compared to its average volume of 1,989,248. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 72.93, a P/E/G ratio of 1.17 and a beta of 1.34. The company has a 50-day moving average of $17.22 and a 200 day moving average of $14.66. Flywire Corporation has a 1-year low of $10.55 and a 1-year high of $19.13.

Flywire (NASDAQ:FLYW) last posted 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). The business had revenue of $163.80 million during 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%. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Research analysts forecast that Flywire Corporation will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Flywire in the fourth quarter valued at about $32,000. Essential Partners LLC increased its position in Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares during the period. KBC Group NV purchased a new position in shares of Flywire during the 1st quarter worth approximately $38,000. Leonteq Securities AG lifted its holdings in shares of Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after buying an additional 2,577 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after buying an additional 2,497 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upgraded Flywire from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $16.00 in a research note on Thursday, May 21st. Weiss Ratings lowered Flywire from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. New Street Research set a $16.00 price target on Flywire in a report on Thursday, May 21st. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $22.00 price objective on shares of Flywire in a research report on Monday. Eight equities 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.