Flywire (NASDAQ:FLYW) Major Shareholder Voss Capital, Lp Sells 93,927 Shares

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 93,927 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $18.91, for a total value of $1,776,159.57. Following the completion of the sale, the insider owned 366,617 shares of the company’s stock, valued at approximately $6,932,727.47. The trade was a 20.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 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 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 value of $495,525.06.
• On Tuesday, August 25th, Voss Capital, Lp sold 172,973 shares of Flywire stock. The shares were sold at an average price of $19.19, for a total value of $3,319,351.87.
• On Monday, August 24th, Voss Capital, Lp sold 101,300 shares of Flywire stock. The shares were sold at an average price of $19.49, for a total value of $1,974,337.00.
• 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 transaction 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 transaction of $1,458,030.00.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $18.79 on Friday. Flywire Corporation has a 1-year low of $10.55 and a 1-year high of $19.73. The company has a market capitalization of $2.29 billion, a P/E ratio of 72.27, a P/E/G ratio of 1.20 and a beta of 1.34. The firm’s 50 day simple moving average is $17.73 and its two-hundred day simple moving average is $15.00.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings cut Flywire from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft upgraded Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Truist Financial lifted their target price on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, August 14th. New Street Research set a $16.00 price target on Flywire in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. upgraded Flywire from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $16.00 in a research note on Thursday, May 21st. Eight research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.85.

Institutional Investors Weigh In On Flywire

Several large investors have recently made changes to their positions in the company. Essential Partners LLC lifted its position in shares of Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after buying an additional 1,571 shares in the last quarter. Nykredit A S purchased a new position in Flywire during the 2nd quarter valued at approximately $29,000. Global Retirement Partners LLC bought a new stake in Flywire in the 4th quarter worth approximately $32,000. KBC Group NV purchased a new stake in shares of Flywire during the 1st quarter worth approximately $38,000. Finally, Leonteq Securities AG raised its holdings in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after acquiring an additional 2,577 shares in the last quarter. 95.90% of the stock is 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.