Flywire (NASDAQ:FLYW) Major Shareholder Sells $471,500.00 in Stock

Key Points

• Voss Capital sold 25,000 Flywire shares for $471,500 at an average price of $18.86, reducing its ownership by 0.22% to 11.5 million shares.
• Flywire shares traded at $18.96, near their 12-month high of $19.13, with a $2.31 billion market capitalization. The company reported 27.2% year-over-year revenue growth to $163.8 million, but missed quarterly EPS expectations.
• Analysts maintain a consensus “Hold” rating with an average price target of $19.54, while institutional investors and hedge funds own approximately 95.9% of Flywire’s outstanding stock.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) major shareholder Voss Capital, Lp sold 25,000 shares of Flywire stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $18.86, for a total transaction of $471,500.00. Following the completion of the sale, the insider directly owned 11,500,000 shares of the company's stock, valued at $216,890,000. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 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 value of $1,458,030.00.

Flywire Stock Performance

NASDAQ FLYW traded up $0.13 during trading hours on Thursday, hitting $18.96. 377,904 shares of the company's stock were exchanged, compared to its average volume of 1,989,248. The business's 50 day moving average is $17.22 and its 200-day moving average is $14.66. Flywire Corporation has a 12-month low of $10.55 and a 12-month high of $19.13. The firm has a market capitalization of $2.31 billion, a P/E ratio of 72.93, a price-to-earnings-growth ratio of 1.17 and a beta of 1.34.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings data 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 return on equity of 4.08% and a net margin of 4.77%.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 firm earned ($0.10) earnings per share. Flywire's quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Flywire Corporation will post 0.4 EPS for the current fiscal year.

Institutional Trading of Flywire

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC bought a new position in Flywire in the first quarter worth about $271,000. Millennium Management LLC grew its holdings in shares of Flywire by 15.1% during the first quarter. Millennium Management LLC now owns 1,330,971 shares of the company's stock valued at $12,644,000 after purchasing an additional 175,007 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Flywire by 14.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company's stock worth $11,792,000 after purchasing an additional 159,239 shares during the period. American Century Companies Inc. lifted its holdings in shares of Flywire by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 107,856 shares of the company's stock worth $1,262,000 after purchasing an additional 7,357 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Flywire in the 2nd quarter worth approximately $184,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FLYW shares. Deutsche Bank Aktiengesellschaft raised Flywire to an "outperform" rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. upgraded shares of Flywire from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $14.00 to $16.00 in a research note on Thursday, May 21st. Truist Financial upped their price target on shares of Flywire from $17.00 to $19.00 and gave the company a "hold" rating in a report on Friday, August 14th. UBS Group raised their price objective on shares of Flywire from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Finally, BTIG Research reissued a "buy" rating and issued a $20.00 target price on shares of Flywire in a research report on Tuesday, July 21st. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Flywire currently has an average rating of "Hold" and a consensus price target of $19.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source