100,000 Shares in Flywire Corporation $FLYW Bought by BlueCrest Capital Management Ltd

Key Points

• BlueCrest Capital Management Ltd bought 100,000 shares of Flywire (NASDAQ:FLYW) in Q3 — about $1.35 million and roughly 0.08% of the company — while institutional investors own about 95.9% of the stock.
• Flywire posted a surprising quarterly result with $105.55 EPS (vs. consensus ($0.01)) and revenue of $157.54 million, up 34% year-over-year, beating analyst estimates.
• Analyst sentiment is mixed: the average rating is "Hold" with a $15.58 target (six Buy, six Hold, two Sell); the shares trade near $12.63 with a market cap of about $1.53 billion and a high P/E of 126.31.

BlueCrest Capital Management Ltd acquired a new stake in Flywire Corporation (NASDAQ:FLYW - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $1,354,000. BlueCrest Capital Management Ltd owned about 0.08% of Flywire at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Flywire by 3.4% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company's stock worth $326,000 after buying an additional 800 shares during the period. Covestor Ltd increased its stake in shares of Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company's stock valued at $43,000 after acquiring an additional 2,216 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock valued at $66,000 after acquiring an additional 2,497 shares during the period. CWM LLC raised its position in shares of Flywire by 76.3% in the 3rd quarter. CWM LLC now owns 11,364 shares of the company's stock valued at $154,000 after acquiring an additional 4,917 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Flywire during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Flywire Stock Performance

NASDAQ FLYW opened at $12.63 on Wednesday. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 126.31, a PEG ratio of 1.08 and a beta of 1.28. The business has a 50 day simple moving average of $12.60 and a 200 day simple moving average of $13.26. Flywire Corporation has a 52-week low of $8.20 and a 52-week high of $15.25.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $105.56. Flywire had a net margin of 2.17% and a return on equity of 2.76%. The firm had revenue of $157.54 million for the quarter, compared to analyst estimates of $144.96 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The business's revenue was up 34.0% on a year-over-year basis. On average, analysts predict that Flywire Corporation will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FLYW shares. B. Riley Financial boosted their price objective on shares of Flywire from $15.00 to $20.00 and gave the company a "buy" rating in a report on Friday, January 9th. The Goldman Sachs Group reduced their price target on shares of Flywire from $17.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Flywire from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Truist Financial lowered their price objective on shares of Flywire from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada raised their price objective on Flywire from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Flywire currently has an average rating of "Hold" and an average target price of $15.58.

Insider Activity at Flywire

In related news, General Counsel Peter Butterfield sold 9,009 shares of the company's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $13.05, for a total value of $117,567.45. Following the completion of the transaction, the general counsel directly owned 532,962 shares of the company's stock, valued at approximately $6,955,154.10. This represents a 1.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Phillip John Riese sold 16,612 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total value of $250,508.96. Following the transaction, the director owned 234,493 shares of the company's stock, valued at approximately $3,536,154.44. This trade represents a 6.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 251,112 shares of company stock valued at $3,477,834 and have sold 39,315 shares valued at $573,620. 4.40% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding FLYW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flywire Corporation (NASDAQ:FLYW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.