Flywire (NASDAQ:FLYW) Major Shareholder Voss Capital, Lp Sells 172,973 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 172,973 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the transaction, the insider directly owned 369,168 shares of the company’s stock, valued at $7,084,333.92. The trade was a 31.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 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 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 shares were sold at an average price of $18.34, for a total value of $1,458,030.00.

Flywire Stock Down 1.9%

Shares of NASDAQ:FLYW opened at $18.84 on Thursday. The firm has a market cap of $2.29 billion, a P/E ratio of 72.46, a P/E/G ratio of 1.23 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 fifty day simple moving average of $17.61 and a 200 day simple moving average of $14.92.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 4th. The company reported ($0.07) EPS 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 company 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 firm posted ($0.10) earnings per share. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts expect that Flywire Corporation will post 0.4 EPS for the current year.

Analysts Set New Price Targets

FLYW has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research note on Wednesday, May 27th. Wolfe Research increased their target price on shares of Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday. Truist Financial boosted their price target on shares of Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, August 14th. Zacks Research lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Weiss Ratings lowered shares of Flywire from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FLYW. Voss Capital LP grew its stake in Flywire by 21.5% during the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after purchasing an additional 2,080,202 shares during the period. Wellington Management Group LLP lifted its stake in Flywire by 1.2% in the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock valued at $93,834,000 after buying an additional 64,998 shares during the period. Jennison Associates LLC lifted its stake in 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 period. Mangrove Partners IM LLC boosted its holdings in shares of Flywire by 2.8% during the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after buying an additional 82,383 shares in the last quarter. Finally, Wasatch Advisors LP bought a new position in shares of Flywire during the 2nd quarter worth approximately $44,026,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.