Dark Forest Capital Management LP Acquires Shares of 29,820 Flywire Co. (NASDAQ:FLYW)

Dark Forest Capital Management LP purchased a new position in shares of Flywire Co. (NASDAQ:FLYW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 29,820 shares of the company's stock, valued at approximately $615,000.

Other hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Flywire by 1.6% in the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company's stock valued at $664,000 after purchasing an additional 513 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in Flywire by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company's stock valued at $261,000 after purchasing an additional 802 shares during the period. Global Retirement Partners LLC bought a new position in shares of Flywire during the fourth quarter worth about $30,000. Harbor Capital Advisors Inc. raised its holdings in Flywire by 0.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company's stock worth $4,635,000 after purchasing an additional 1,531 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Flywire by 1.3% in the 4th quarter. Alliancebernstein L.P. now owns 145,705 shares of the company's stock valued at $3,004,000 after purchasing an additional 1,839 shares during the period. 95.90% of the stock is owned by institutional investors.

Flywire Trading Up 0.3 %

Shares of NASDAQ FLYW traded up $0.03 during midday trading on Thursday, hitting $9.44. 286,071 shares of the company's stock were exchanged, compared to its average volume of 1,738,565. Flywire Co. has a 12-month low of $8.20 and a 12-month high of $23.40. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 62.83, a PEG ratio of 1.41 and a beta of 1.22. The business's fifty day moving average price is $9.93 and its two-hundred day moving average price is $16.46.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $112.80 million during the quarter, compared to analysts' expectations of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Equities analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FLYW shares. The Goldman Sachs Group dropped their price objective on Flywire from $15.00 to $11.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. UBS Group downgraded Flywire from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. BTIG Research lowered Flywire from a "buy" rating to a "neutral" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $9.00 target price (down from $16.00) on shares of Flywire in a report on Monday, April 14th. Finally, Citigroup reduced their price objective on Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Flywire has an average rating of "Hold" and a consensus target price of $17.00.

Insiders Place Their Bets

In other Flywire news, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.94 per share, with a total value of $97,245.66. Following the transaction, the director now directly owns 30,770 shares of the company's stock, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the transaction, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.