Flywire (NASDAQ:FLYW) Major Shareholder Voss Capital, Lp Sells 101,300 Shares of Stock

Key Points

• Voss Capital sold 101,300 Flywire shares at an average price of $19.49, generating approximately $1.97 million and reducing its position by 21.36% to 372,846 shares. The investor also sold additional shares in several recent transactions.
• Flywire shares traded at $18.84, near their 12-month high of $19.73, with a market capitalization of approximately $2.29 billion. The company’s latest revenue rose 27.2% year over year to $163.8 million, though it missed quarterly EPS expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $19.85; institutional investors own approximately 95.9% of Flywire’s outstanding stock.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) major shareholder Voss Capital, Lp sold 101,300 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $19.49, for a total value of $1,974,337.00. Following the completion of the transaction, the insider owned 372,846 shares in the company, valued at $7,266,768.54. The trade was a 21.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company's shares 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 shares were sold at an average price of $19.19, for a total transaction 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 stock was sold at an average price of $18.34, for a total value of $1,458,030.00.

Flywire Price Performance

FLYW stock traded down $0.37 during trading on Wednesday, reaching $18.84. 1,234,812 shares of the company were exchanged, compared to its average volume of 1,980,311. The company has a market capitalization 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 company has a 50-day moving average of $17.55 and a two-hundred day moving average of $14.86. Flywire Corporation has a twelve month low of $10.55 and a twelve month high of $19.73.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.07) 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 net margin of 4.77% and a return on equity of 4.08%. Flywire's revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share. On average, analysts forecast that Flywire Corporation will post 0.4 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on FLYW shares. Wall Street Zen cut shares of Flywire from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Zacks Research lowered Flywire from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. JPMorgan Chase & Co. raised Flywire from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. B. Riley Financial upped their price target on Flywire from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $22.00 price target on shares of Flywire in a research note on Wednesday, August 5th. Eight 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.85.

Institutional Inflows and Outflows

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

About Flywire

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.

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