Flywire (NASDAQ:FLYW) Major Shareholder Voss Capital, Lp Sells 25,000 Shares

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 25,000 shares of the stock in a transaction 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 completion of the sale, the insider directly owned 11,500,000 shares in the company, valued at approximately $216,890,000. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% 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 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 Stock Performance

Shares of Flywire stock opened at $18.75 on Friday. The company has a 50-day simple moving average of $17.30 and a two-hundred day simple moving average of $14.70. The stock has a market capitalization of $2.28 billion, a PE ratio of 72.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.34. Flywire Corporation has a 52-week low of $10.55 and a 52-week high of $19.13.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share 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 firm had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. During the same period last year, the business earned ($0.10) EPS. Flywire’s revenue was up 27.2% on a year-over-year basis. As a group, equities research analysts forecast that Flywire Corporation will post 0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on FLYW shares. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Flywire in a research report on Wednesday, May 27th. Wall Street Zen cut Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $22.00 price target on shares of Flywire 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.54.

Hedge Funds Weigh In On Flywire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Essential Partners LLC lifted its position in Flywire by 219.1% during the first 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 during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Flywire in the 4th quarter worth about $32,000. KBC Group NV purchased a new stake in shares of Flywire during the 1st quarter valued at about $38,000. Leonteq Securities AG lifted its holdings in shares of Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after acquiring an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after acquiring an additional 2,497 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

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.