Key Points
- Voss Capital sold 44,768 Flywire shares at an average price of $18.78, generating $840,743 and reducing its stake by 0.40% to 11.07 million shares. The sale followed several other disposals in August.
- Flywire reported quarterly revenue of $163.8 million, up 27.2% year over year and above estimates, but its loss of $0.07 per share missed the consensus estimate of a $0.02 loss.
- Analysts have an average “Hold” rating and a $20.23 price target, while the stock recently traded at $18.18, near its 52-week high of $19.73. Institutional investors own approximately 95.9% of the company.
Flywire Corporation (NASDAQ:FLYW - Get Free Report) major shareholder Voss Capital, Lp sold 44,768 shares of Flywire stock in a transaction on Friday, August 28th. The stock was sold at an average price of $18.78, for a total value of $840,743.04. Following the transaction, the insider owned 11,069,321 shares in the company, valued at approximately $207,881,848.38. This represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 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 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 transaction of $1,776,159.57.
- On Wednesday, August 26th, Voss Capital, Lp sold 26,094 shares of Flywire stock. The shares were 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 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 stock was 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 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 shares were sold at an average price of $18.34, for a total transaction of $1,458,030.00.
Flywire Price Performance
Flywire stock opened at $18.18 on Wednesday. The firm has a 50 day simple moving average of $17.85 and a 200-day simple moving average of $15.13. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 69.93, a price-to-earnings-growth ratio of 1.21 and a beta of 1.30. Flywire Corporation has a 1-year low of $10.55 and a 1-year high of $19.73.
Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly 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). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The firm had revenue of $163.80 million for the quarter, compared to analysts' expectations of $156.47 million. During the same period in the previous year, the firm posted ($0.10) EPS. The firm's quarterly revenue was up 27.2% compared to the same quarter last year. Equities analysts expect that Flywire Corporation will post 0.4 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Seaport Research Partners reaffirmed a "buy" rating and issued a $22.00 price target on shares of Flywire in a research note on Monday, August 17th. Citigroup restated a "neutral" rating on shares of Flywire in a report on Thursday, August 6th. JPMorgan Chase & Co. raised shares of Flywire from an "underweight" rating to a "neutral" rating and upped their target price for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. New Street Research set a $16.00 target price on shares of Flywire in a research note on Thursday, May 21st. Finally, Weiss Ratings cut shares of Flywire from a "hold (c)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $20.23.
View Our Latest Report on FLYW
Institutional Investors Weigh In On Flywire
Institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP purchased a new position in Flywire during the 2nd quarter valued at about $44,026,000. Wellington Management Group LLP increased its stake in Flywire by 173.3% during the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company's stock worth $45,470,000 after purchasing an additional 2,129,514 shares during the period. Voss Capital LP lifted its position in shares of Flywire by 21.5% during the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company's stock worth $166,380,000 after purchasing an additional 2,080,202 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Flywire by 1,334.6% during the second quarter. California State Teachers Retirement System now owns 2,103,094 shares of the company's stock worth $36,951,000 after purchasing an additional 1,956,492 shares in the last quarter. Finally, Cooper Creek Partners Management LLC purchased a new position in shares of Flywire in the third quarter valued at approximately $15,433,000. Hedge funds and other institutional investors own 95.90% of the company's stock.
Flywire Company Profile
(
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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