Ararat Capital Management LP Buys Shares of 774,864 Flywire Corporation $FLYW

Key Points

• Ararat Capital purchased 774,864 shares of Flywire in Q3 valued at about $10.49 million, making the position ~5.6% of Ararat’s holdings and Flywire its ninth-largest holding; Ararat owns roughly 0.63% of Flywire.
• Several other institutions sharply increased positions (e.g., Voss to 8.1M shares, Divisadero to 4.78M, Wellington to 3.36M) and institutional investors hold about 95.9% of the stock, while insiders net acquired 251,112 shares and sold 39,315 last quarter (insiders own 4.4%).
• Flywire reported a surprise quarterly beat—EPS of 105.55 vs. ($0.01) expected and revenue up 34% to $157.54 million—its shares trade around $12.43 (market cap ~$1.51B) and the consensus analyst rating is Hold with a $15.58 target.

Ararat Capital Management LP purchased a new stake in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 774,864 shares of the company's stock, valued at approximately $10,492,000. Flywire comprises about 5.6% of Ararat Capital Management LP's holdings, making the stock its 9th largest holding. Ararat Capital Management LP owned 0.63% of Flywire at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Voss Capital LP raised its stake in Flywire by 176.0% in the 2nd quarter. Voss Capital LP now owns 8,100,000 shares of the company's stock valued at $94,770,000 after acquiring an additional 5,165,014 shares during the period. Divisadero Street Capital Management LP boosted its position in Flywire by 178.0% during the second quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company's stock worth $55,980,000 after purchasing an additional 3,063,518 shares during the period. Wellington Management Group LLP increased its stake in shares of Flywire by 173.3% in 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 in the last quarter. Mangrove Partners IM LLC purchased a new position in shares of Flywire in the third quarter worth about $39,289,000. Finally, Azora Capital LP bought a new stake in shares of Flywire in the second quarter valued at approximately $33,355,000. Institutional investors own 95.90% of the company's stock.

Insider Buying and Selling

In other Flywire news, major shareholder Voss Capital, Lp acquired 25,000 shares of the company's stock in a transaction that occurred on Friday, February 13th. The stock was bought at an average price of $10.99 per share, with a total value of $274,750.00. Following the completion of the purchase, the insider owned 2,300,000 shares of the company's stock, valued at approximately $25,277,000. This represents a 1.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Peter Butterfield sold 9,009 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $13.05, for a total value of $117,567.45. Following the transaction, the general counsel owned 532,962 shares of the company's stock, valued at approximately $6,955,154.10. The trade was a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 251,112 shares of company stock worth $3,477,834 and have sold 39,315 shares worth $573,620. 4.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FLYW shares. B. Riley Financial raised their price objective on shares of Flywire from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, January 9th. UBS Group lowered their target price on shares of Flywire from $15.50 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Citigroup dropped their target price on Flywire from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, February 26th. Zacks Research raised Flywire from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 19th. Finally, Truist Financial decreased their price objective on Flywire from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.58.

Flywire Trading Down 0.5%

Shares of NASDAQ:FLYW opened at $12.43 on Friday. The company has a 50 day moving average of $12.67 and a 200 day moving average of $13.27. The stock has a market cap of $1.51 billion, a P/E ratio of 124.31, a P/E/G ratio of 1.08 and a beta of 1.28. Flywire Corporation has a 12 month low of $8.20 and a 12 month high of $15.25.

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

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.

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