Flywire (NASDAQ:FLYW) Major Shareholder Voss Capital, Lp Sells 26,094 Shares of Stock

Key Points

• Voss Capital sold 26,094 Flywire shares at an average price of $18.99, receiving approximately $495,525 and reducing its stake by 6.61% to 368,613 shares.
• The shareholder has made several additional sales in August, including 93,927 shares on August 27 and 172,973 shares on August 25, indicating continued reduction of its Flywire position.
• Flywire shares were trading near a one-year high at $18.78, while analysts maintained a consensus “Hold” rating with an average price target of $19.85; the company’s latest quarter showed 27.2% revenue growth but missed EPS expectations.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) major shareholder Voss Capital, Lp sold 26,094 shares of the firm'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 transaction, the insider owned 368,613 shares of the company's stock, valued at approximately $6,999,960.87. The trade was a 6.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 Thursday, August 27th, Voss Capital, Lp sold 93,927 shares of Flywire stock. The shares were 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 transaction of $3,319,351.87.
• On Monday, August 24th, Voss Capital, Lp sold 101,300 shares of Flywire stock. The shares were sold at an average price of $19.49, for a total transaction of $1,974,337.00.
• 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 value of $1,458,030.00.

Flywire Price Performance

Flywire stock traded up $0.08 during mid-day trading on Friday, reaching $18.78. The stock had a trading volume of 535,473 shares, compared to its average volume of 1,967,888. Flywire Corporation has a one year low of $10.55 and a one year high of $19.73. The company has a 50-day moving average price of $17.67 and a two-hundred day moving average price of $14.97. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 72.23, a PEG ratio of 1.21 and a beta of 1.34.

Flywire (NASDAQ:FLYW - Get Free Report) last issued 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 company's quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) EPS. On average, equities research analysts anticipate that Flywire Corporation will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flywire

Hedge funds have recently modified their holdings of the stock. Essential Partners LLC grew its stake in Flywire by 219.1% during 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 in the last quarter. Nykredit A S bought a new position in shares of Flywire during the 2nd quarter valued at about $29,000. Global Retirement Partners LLC bought a new position in shares of Flywire during the 4th quarter valued at about $32,000. KBC Group NV purchased a new position in shares of Flywire during the first quarter valued at about $38,000. Finally, Leonteq Securities AG grew its position in shares of Flywire by 267.6% during the first quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock valued at $41,000 after purchasing an additional 2,577 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FLYW. Deutsche Bank Aktiengesellschaft upgraded Flywire to an "outperform" rating in a research note on Wednesday, May 27th. New Street Research set a $16.00 price target on shares of Flywire in a research report on Thursday, May 21st. Wall Street Zen lowered Flywire from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. BTIG Research restated a "buy" rating and issued a $20.00 price target on shares of Flywire in a research report on Tuesday, July 21st. Finally, UBS Group boosted their price objective on Flywire from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $19.85.

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.

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