Flywire (NASDAQ:FLYW) Major Shareholder Voss Capital, Lp Sells 79,500 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 79,500 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $18.34, for a total transaction of $1,458,030.00. Following the sale, the insider directly owned 2,250,000 shares in the company, valued at approximately $41,265,000. The trade was a 3.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• 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.

Flywire Stock Down 0.4%

Shares of NASDAQ:FLYW opened at $18.75 on Friday. The firm has a fifty day simple moving average of $17.30 and a two-hundred day simple moving average of $14.70. Flywire Corporation has a 52 week low of $10.55 and a 52 week high of $19.13. The stock has a market capitalization of $2.28 billion, a P/E ratio of 72.12, a PEG ratio of 1.21 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last announced its 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). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $156.47 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, analysts expect that Flywire Corporation will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Flywire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP bought a new position in shares of Flywire during the 2nd quarter worth $44,026,000. Wellington Management Group LLP raised its holdings in shares of Flywire by 173.3% in the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after acquiring an additional 2,129,514 shares in the last quarter. Voss Capital LP lifted its stake 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 acquiring an additional 2,080,202 shares during the period. Jennison Associates LLC lifted its stake in Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after acquiring an additional 1,150,802 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new stake in Flywire in the third quarter worth about $15,433,000. Institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FLYW shares. B. Riley Financial raised their target price on shares of Flywire from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a report on Wednesday, May 27th. BTIG Research reissued a “buy” rating and issued a $20.00 price objective on shares of Flywire in a research note on Tuesday, July 21st. Truist Financial boosted their target price on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, August 14th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $22.00 target price on shares of Flywire in a research note on Wednesday, August 5th. Eight 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. Based on data from MarketBeat, Flywire has a consensus rating of “Hold” and a consensus price target of $19.54.

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.