Insider Selling: Flywire (NASDAQ:FLYW) Major Shareholder Sells $495,525.06 in Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 26,094 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $18.99, for a total value of $495,525.06. Following the sale, the insider directly owned 368,613 shares in the company, valued at $6,999,960.87. This trade represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 shares were sold at an average price of $18.91, for a total transaction of $1,776,159.57.
• 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 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 Flywire stock traded up $0.08 during trading hours on Friday, reaching $18.78. The company’s stock had a trading volume of 535,473 shares, compared to its average volume of 1,967,888. The firm has a 50 day moving average price of $17.67 and a 200-day moving average price of $14.97. The stock has a market cap of $2.28 billion, a P/E ratio of 72.23, a P/E/G ratio of 1.21 and a beta of 1.34. Flywire Corporation has a one year low of $10.55 and a one year high of $19.73.

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

Analyst Ratings Changes

Several research firms have recently weighed in on FLYW. B. Riley Financial boosted their target price on Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. New Street Research set a $16.00 price objective on shares of Flywire in a research note on Thursday, May 21st. Wall Street Zen lowered Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Citigroup restated a “neutral” rating on shares of Flywire in a report on Thursday, August 6th. Finally, UBS Group increased their target price on Flywire from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Essential Partners LLC raised its position in Flywire by 219.1% during 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. Nykredit A S bought a new position in shares of Flywire during the 2nd quarter worth $29,000. Global Retirement Partners LLC bought a new position in shares of Flywire during the 4th quarter worth $32,000. KBC Group NV purchased a new position in shares of Flywire during the first quarter valued at $38,000. Finally, Leonteq Securities AG increased its stake in shares of 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 during the period. Institutional investors own 95.90% of the company’s stock.

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.