Insider Selling: Flywire (NASDAQ:FLYW) Major Shareholder Sells $840,743.04 in Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 44,768 shares of Flywire stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $18.78, for a total transaction of $840,743.04. Following the completion of the sale, the insider owned 11,069,321 shares of the company’s stock, valued at $207,881,848.38. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 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 Thursday, August 27th, Voss Capital, Lp sold 93,927 shares of Flywire stock. The stock was sold at an average price of $18.91, for a total transaction of $1,776,159.57.
• On Wednesday, August 26th, Voss Capital, Lp sold 26,094 shares of Flywire stock. The shares were sold at an average price of $18.99, for a total transaction of $495,525.06.
• 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 Monday, August 24th, Voss Capital, Lp sold 101,300 shares of Flywire stock. The stock was sold at an average price of $19.49, for a total transaction of $1,974,337.00.
• 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 stock was sold at an average price of $18.34, for a total value of $1,458,030.00.

Flywire Stock Performance

FLYW opened at $18.70 on Friday. The company has a market cap of $2.28 billion, a PE ratio of 71.93, a price-to-earnings-growth ratio of 1.21 and a beta of 1.30. The stock has a 50-day moving average of $17.93 and a 200-day moving average of $15.24. Flywire Corporation has a 52-week low of $10.55 and a 52-week high of $19.73.

Flywire (NASDAQ:FLYW) last posted 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). The company had revenue of $163.80 million during the quarter, compared to analyst estimates of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. On average, research analysts predict that Flywire Corporation will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on FLYW. B. Riley Financial lifted their target price on shares of Flywire from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Zacks Research cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Wall Street Zen lowered Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, New Street Research set a $16.00 price objective on Flywire in a research report on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.23.

Hedge Funds Weigh In On Flywire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Essential Partners LLC lifted its position in shares of Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after acquiring an additional 1,571 shares during the period. Nykredit A S bought a new stake in Flywire in the 2nd quarter valued at $29,000. Global Retirement Partners LLC bought a new stake in Flywire in the 4th quarter valued at $32,000. KBC Group NV acquired a new position in shares of Flywire in the 1st quarter valued at $38,000. Finally, Leonteq Securities AG raised its stake 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 in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.