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

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 101,300 shares of Flywire stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $19.49, for a total value of $1,974,337.00. Following the completion of the transaction, the insider owned 372,846 shares of the company’s stock, valued at approximately $7,266,768.54. This represents a 21.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more 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 value of $3,319,351.87.
• On Wednesday, August 19th, Voss Capital, Lp sold 25,000 shares of Flywire stock. The stock was 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 Price Performance

Flywire stock opened at $18.70 on Friday. The stock has a market capitalization of $2.28 billion, a PE ratio of 71.93, a price-to-earnings-growth ratio of 1.21 and a beta of 1.34. Flywire Corporation has a 12 month low of $10.55 and a 12 month high of $19.73. The business has a 50 day simple moving average of $17.67 and a 200-day simple moving average of $14.97.

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

Analyst Ratings Changes

Several research firms have issued reports on FLYW. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $16.00 in a report on Thursday, May 21st. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Truist Financial boosted their target price on shares of Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 price target on shares of Flywire in a research note on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Voss Capital LP lifted its holdings in Flywire by 21.5% in the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after purchasing an additional 2,080,202 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock worth $93,834,000 after buying an additional 64,998 shares in the last quarter. Jennison Associates LLC raised its position in shares of Flywire by 19.9% in the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after buying an additional 878,248 shares during the last quarter. Mangrove Partners IM LLC raised its position in shares of Flywire by 2.8% in the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock valued at $42,255,000 after buying an additional 82,383 shares during the last quarter. Finally, Wasatch Advisors LP purchased a new position in shares of Flywire in the second quarter worth about $44,026,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.