Insider Selling: Flywire (NASDAQ:FLYW) Major Shareholder Sells $1,974,337.00 in Stock

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 101,300 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $19.49, for a total transaction of $1,974,337.00. Following the sale, the insider directly owned 372,846 shares of the company’s stock, valued at approximately $7,266,768.54. This trade represents a 21.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major 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 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 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 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 transaction of $1,458,030.00.

Flywire Trading Down 1.9%

NASDAQ FLYW traded down $0.37 during trading hours on Wednesday, hitting $18.84. The company’s stock had a trading volume of 1,234,812 shares, compared to its average volume of 1,980,311. Flywire Corporation has a 52 week low of $10.55 and a 52 week high of $19.73. The company’s 50-day simple moving average is $17.55 and its two-hundred day simple moving average is $14.86. The company has a market capitalization of $2.29 billion, a PE ratio of 72.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last posted 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). The firm had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The business’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. Research analysts anticipate that Flywire Corporation will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on FLYW shares. Zacks Research lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Citigroup restated a “neutral” rating on shares of Flywire in a research note on Thursday, August 6th. New Street Research set a $16.00 target price on Flywire in a report on Thursday, May 21st. B. Riley Financial upped their target price on Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.85.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently added to or reduced their stakes in the stock. Essential Partners LLC boosted its stake in Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares during the last quarter. Nykredit A S bought a new position in shares of Flywire during the 2nd quarter valued at approximately $29,000. Global Retirement Partners LLC bought a new position in shares of Flywire during the 4th quarter valued at approximately $32,000. KBC Group NV purchased a new stake in shares of Flywire during the 1st quarter worth approximately $38,000. Finally, Leonteq Securities AG increased its stake in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after purchasing an additional 2,577 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

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.