Insider Selling: Flywire (NASDAQ:FLYW) Major Shareholder Sells 93,927 Shares

Flywire Corporation (NASDAQ:FLYW) major shareholder Voss Capital, Lp sold 93,927 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $18.91, for a total value of $1,776,159.57. Following the sale, the insider directly owned 366,617 shares in the company, valued at approximately $6,932,727.47. The trade was a 20.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Voss Capital, Lp also recently made the following trade(s):

• On Wednesday, August 26th, Voss Capital, Lp sold 26,094 shares of Flywire stock. The stock was sold at an average price of $18.99, for a total transaction of $495,525.06.
• 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 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 value 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 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

Shares of Flywire stock traded up $0.08 during trading on Friday, hitting $18.78. 535,473 shares of the company were exchanged, compared to its average volume of 1,967,888. Flywire Corporation has a 1-year low of $10.55 and a 1-year high of $19.73. The firm has a market capitalization of $2.28 billion, a P/E ratio of 72.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.34. The firm’s fifty day moving average price is $17.67 and its 200 day moving average price is $14.97.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The firm 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 quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) EPS. As a group, equities research analysts anticipate that Flywire Corporation will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen cut Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. UBS Group raised 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. Raymond James Financial reissued an “outperform” rating and set a $22.00 price objective on shares of Flywire in a report on Wednesday, May 27th. Citigroup reissued a “neutral” rating on shares of Flywire in a research report on Thursday, August 6th. Finally, Zacks Research cut Flywire from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.85.

Institutional Investors Weigh In On Flywire

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Flywire by 13.6% in the 4th quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock worth $128,000 after acquiring an additional 1,081 shares in the last quarter. Essential Partners LLC boosted its position in shares of 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 buying an additional 1,571 shares during the last quarter. Nykredit A S purchased a new position in shares of Flywire during the second quarter valued at approximately $29,000. Global Retirement Partners LLC purchased a new stake in Flywire during the fourth quarter valued at $32,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after buying an additional 2,497 shares during the last quarter. Hedge funds and other institutional investors 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.