Key Points
- Voss Capital sold 79,500 Flywire shares at an average price of $18.34, generating approximately $1.46 million. The firm retained 2.25 million shares, and also sold 25,000 additional shares the following day at $18.86.
- Flywire reported quarterly revenue of $163.8 million, up 27.2% year over year and above estimates, but its adjusted loss of $0.07 per share missed the $0.02-loss consensus.
- Analysts have a consensus “Hold” rating and an average price target of $19.54, while institutional investors and hedge funds own approximately 95.9% of Flywire’s outstanding shares.
Flywire Corporation (NASDAQ:FLYW - Get Free Report) major shareholder Voss Capital, Lp sold 25,000 shares of the stock in a transaction dated 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 in the company, valued at $216,890,000. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions 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 shares were sold at an average price of $18.34, for a total value of $1,458,030.00.
Flywire Price Performance
FLYW stock opened at $18.75 on Friday. Flywire Corporation has a 12 month low of $10.55 and a 12 month high of $19.13. The firm's 50-day moving average is $17.30 and its 200 day moving average is $14.70. The company has a market capitalization of $2.28 billion, a PE ratio of 72.12, a P/E/G ratio of 1.21 and a beta of 1.34.
Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly 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 analysts' expectations 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 in the previous year, the firm posted ($0.10) EPS. Sell-side analysts forecast that Flywire Corporation will post 0.4 EPS for the current fiscal year.
Institutional Trading of Flywire
Institutional investors have recently made changes to their positions in the business. Ancora Advisors LLC purchased a new position in Flywire during the 2nd quarter worth $176,000. Wellington Management Group LLP boosted its holdings in Flywire by 1.2% in 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 in the last quarter. Globeflex Capital L P acquired a new stake in Flywire in the second quarter worth about $247,000. Wasatch Advisors LP purchased a new stake in shares of Flywire during the second quarter worth about $44,026,000. Finally, Handelsbanken Fonder AB grew its stake in shares of Flywire by 26.0% during the second quarter. Handelsbanken Fonder AB now owns 33,400 shares of the company's stock worth $587,000 after acquiring an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company's stock.
Analysts Set New Price Targets
FLYW has been the subject of several recent research reports. Citigroup reissued a "neutral" rating on shares of Flywire in a research report on Thursday, August 6th. JPMorgan Chase & Co. upgraded Flywire from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $14.00 to $16.00 in a research note on Thursday, May 21st. UBS Group boosted their target price on shares of Flywire from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Flywire from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Finally, Morgan Stanley restated an "overweight" rating and issued a $22.00 price target on shares of Flywire in a report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $19.54.
Read Our Latest Research Report on FLYW
About Flywire
(
Get Free Report)
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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