Flywire (NASDAQ:FLYW) Major Shareholder Sells $3,319,351.87 in Stock

Key Points

• Voss Capital sold 172,973 Flywire shares for approximately $3.32 million at an average price of $19.19, reducing its position by 31.91% to 369,168 shares. The firm also disclosed three additional Flywire sales in August.
• Flywire shares traded at $18.84, near their 52-week high of $19.73, with a $2.29 billion market capitalization. The stock’s consensus analyst rating is “Hold,” with an average price target of $19.85.
• In its latest quarter, Flywire reported revenue of $163.8 million, up 27.2% year over year and above estimates, but posted adjusted EPS of negative $0.07, missing the consensus estimate of negative $0.02.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) major shareholder Voss Capital, Lp sold 172,973 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the completion of the sale, the insider owned 369,168 shares of the company's stock, valued at approximately $7,084,333.92. This trade represents a 31.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 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 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 transaction of $471,500.00.
• 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 Price Performance

NASDAQ FLYW traded down $0.37 on Wednesday, hitting $18.84. 1,234,812 shares of the company's stock were exchanged, compared to its average volume of 1,980,311. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 72.46, a P/E/G ratio of 1.24 and a beta of 1.34. The firm's 50-day moving average price is $17.55 and its two-hundred day moving average price is $14.86. Flywire Corporation has a fifty-two week low of $10.55 and a fifty-two week high of $19.73.

Flywire (NASDAQ:FLYW - Get Free Report) last announced 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%. The firm's revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) EPS. On average, research analysts predict that Flywire Corporation will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Weiss Ratings lowered shares of Flywire from a "hold (c)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upgraded Flywire from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. Wall Street Zen downgraded Flywire from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Zacks Research lowered Flywire from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Finally, BTIG Research reiterated a "buy" rating and set a $20.00 target price on shares of Flywire in a research report on Tuesday, July 21st. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Flywire has a consensus rating of "Hold" and a consensus price target of $19.85.

Institutional Trading of Flywire

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its holdings in shares of Flywire by 1,334.6% during the 2nd quarter. California State Teachers Retirement System now owns 2,103,094 shares of the company's stock worth $36,951,000 after buying an additional 1,956,492 shares during the last quarter. Nykredit A S acquired a new position in Flywire in the second quarter valued at $29,000. Ancora Advisors LLC purchased a new stake in Flywire during the second quarter valued at about $176,000. Wellington Management Group LLP increased its stake in Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company's stock worth $93,834,000 after acquiring an additional 64,998 shares during the last quarter. Finally, Globeflex Capital L P purchased a new position in shares of Flywire in the 2nd quarter worth about $247,000. 95.90% of the stock is owned by hedge funds and other 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.

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