Insider Selling: Flywire (NASDAQ:FLYW) Major Shareholder Sells 25,000 Shares

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $18.86, for a total value of $471,500.00. Following the transaction, the insider owned 11,500,000 shares of the company’s stock, valued at approximately $216,890,000. This represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Voss Capital, Lp also recently made the following trade(s):

• 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 Trading Up 0.7%

FLYW stock traded up $0.13 during trading on Thursday, hitting $18.96. The company had a trading volume of 377,904 shares, 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 business has a 50 day moving average of $17.22 and a 200 day moving average of $14.66. Flywire Corporation has a fifty-two week low of $10.55 and a fifty-two week high of $19.13.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (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 analyst estimates of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. 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 business posted ($0.10) earnings per share. As a group, equities analysts predict that Flywire Corporation will post 0.4 EPS for the current year.

Hedge Funds Weigh In On Flywire

A number of hedge funds have recently modified their holdings of FLYW. Voss Capital LP increased its holdings in Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after buying an additional 2,080,202 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Flywire by 1.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock valued at $93,834,000 after purchasing an additional 64,998 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Flywire by 19.9% in the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after purchasing an additional 878,248 shares during the last quarter. Mangrove Partners IM LLC boosted its holdings in Flywire by 2.8% in the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after purchasing an additional 82,383 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new position in Flywire during the second quarter worth $44,026,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FLYW. Morgan Stanley restated an “overweight” rating and set a $22.00 price target on shares of Flywire in a report on Wednesday, August 5th. Zacks Research cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Truist Financial increased their target price on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a report on Friday, August 14th. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. Finally, Wall Street Zen downgraded Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Eight equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.