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 shares were sold at an average price of $18.99, for a total value of $495,525.06. Following the completion of the sale, the insider owned 368,613 shares in the company, valued at $6,999,960.87. This represents a 6.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Thursday, August 27th, Voss Capital, Lp sold 93,927 shares of Flywire stock. The stock was sold at an average price of $18.91, for a total value 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 value 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 value 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 value 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 Price Performance

FLYW stock opened at $18.79 on Monday. The company has a fifty day moving average price of $17.73 and a two-hundred day moving average price of $15.03. Flywire Corporation has a one year low of $10.55 and a one year high of $19.73. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 72.27, a price-to-earnings-growth ratio of 1.20 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 analyst estimates of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. Flywire’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. Research analysts anticipate that Flywire Corporation will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLYW. JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and upped their price target for the company from $14.00 to $16.00 in a research note on Thursday, May 21st. New Street Research set a $16.00 price objective on shares of Flywire in a research report on Thursday, May 21st. Seaport Research Partners restated a “buy” rating and set a $22.00 price objective on shares of Flywire in a report on Monday, August 17th. Citigroup reaffirmed a “neutral” rating on shares of Flywire in a research 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 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. Based on data from MarketBeat.com, Flywire currently has an average rating of “Hold” and an average target price of $19.85.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP bought a new stake in Flywire in the 2nd quarter valued at about $44,026,000. Wellington Management Group LLP increased its holdings in shares of Flywire by 173.3% during the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after purchasing an additional 2,129,514 shares during the period. Voss Capital LP increased its holdings in shares of 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. California State Teachers Retirement System raised its position in shares of Flywire by 1,334.6% in the second quarter. California State Teachers Retirement System now owns 2,103,094 shares of the company’s stock valued at $36,951,000 after buying an additional 1,956,492 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after buying an additional 1,150,802 shares in the last quarter. 95.90% of the stock is currently 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.