100,000 Shares in Flywire Corporation (NASDAQ:FLYW) Bought by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC acquired a new stake in Flywire Corporation (NASDAQ:FLYW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $950,000. Flywire comprises approximately 1.3% of ABS Direct Equity Fund LLC's portfolio, making the stock its 28th largest position. ABS Direct Equity Fund LLC owned 0.08% of Flywire as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in Flywire during the 4th quarter worth $30,000. Arcadia Investment Management Corp MI bought a new stake in shares of Flywire in the 4th quarter worth $48,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Flywire during the fourth quarter worth approximately $77,000. Venturi Wealth Management LLC purchased a new stake in shares of Flywire during the fourth quarter valued at $104,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Flywire in the fourth quarter valued at $225,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Flywire from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Wells Fargo & Company lowered their target price on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. BTIG Research cut Flywire from a "buy" rating to a "neutral" rating in a report on Wednesday, February 26th. Raymond James Financial cut Flywire from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $29.00 to $17.00 in a report on Wednesday, February 26th. Finally, B. Riley restated a "buy" rating and set a $17.00 target price (down from $29.00) on shares of Flywire in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.15.

Flywire Trading Up 1.3%

Shares of NASDAQ:FLYW traded up $0.14 during trading hours on Wednesday, hitting $10.93. 1,942,469 shares of the company's stock traded hands, compared to its average volume of 1,856,396. The firm has a market capitalization of $1.33 billion, a P/E ratio of 273.25, a price-to-earnings-growth ratio of 1.51 and a beta of 1.27. Flywire Corporation has a 1 year low of $8.20 and a 1 year high of $23.40. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 2.02. The business has a fifty day moving average price of $10.12 and a 200-day moving average price of $14.31.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. Flywire had a return on equity of 1.57% and a net margin of 0.97%. The firm had revenue of $128.70 million for the quarter, compared to the consensus estimate of $124.18 million. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) EPS. Equities analysts expect that Flywire Corporation will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Edwin J. Santos sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $10.50, for a total transaction of $52,500.00. Following the transaction, the director now directly owns 16,990 shares in the company, valued at approximately $178,395. This trade represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company's stock.

Flywire 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.