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 stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $18.91, for a total transaction of $1,776,159.57. Following the completion of the transaction, the insider directly 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 legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 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 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 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 transaction of $1,458,030.00.

Flywire Stock Up 0.4%

Shares of NASDAQ:FLYW traded up $0.08 during trading on Friday, hitting $18.78. The stock had a trading volume of 535,473 shares, compared to its average volume of 1,967,888. Flywire Corporation has a 12-month low of $10.55 and a 12-month high of $19.73. The stock has a 50-day simple moving average of $17.67 and a two-hundred day simple moving average of $14.97. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 72.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.07) EPS 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 analysts’ expectations of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) EPS. As a group, sell-side analysts forecast that Flywire Corporation will post 0.4 earnings per share for the current year.

Institutional Trading of Flywire

A number of institutional investors have recently modified their holdings of the company. Nykredit A S acquired a new stake in shares of Flywire in the second quarter worth $29,000. Global Retirement Partners LLC purchased a new stake in shares of Flywire during the fourth quarter worth about $32,000. Essential Partners LLC raised 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 valued at $27,000 after purchasing an additional 1,571 shares in the last quarter. KBC Group NV bought a new stake in shares of Flywire in the 1st quarter worth about $38,000. Finally, Leonteq Securities AG raised its stake in Flywire by 267.6% during the first 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. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FLYW. Seaport Research Partners restated a “buy” rating and issued a $22.00 price objective on shares of Flywire in a report on Monday, August 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price objective on shares of Flywire in a report on Wednesday, August 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $22.00 price target on shares of Flywire in a report on Wednesday, August 5th. Zacks Research downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Truist Financial raised their price objective on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, August 14th. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.85.

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.