BlueCrest Capital Management Ltd Makes New Investment in Flywire Corporation $FLYW

Key Points

• BlueCrest Capital purchased 100,000 shares (≈$1.35M) of Flywire in Q3, and other firms — notably Voss, Divisadero and Wellington — dramatically increased positions, leaving institutional ownership at about 95.9%.
• Flywire reported quarterly revenue of $157.54M (up 34% YoY) and an EPS print of $105.55, trades with a $1.51B market cap, and carries a consensus analyst rating of Hold with an average price target of $15.58.
• Insider activity included recent sales by a director and the general counsel, but insiders overall net acquired 251,112 shares versus 39,315 sold last quarter, and insiders now own roughly 4.4% of the company.

BlueCrest Capital Management Ltd purchased a new stake in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,000 shares of the company's stock, valued at approximately $1,354,000. BlueCrest Capital Management Ltd owned 0.08% of Flywire at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLYW. Voss Capital LP lifted its position in shares of Flywire by 176.0% during the 2nd quarter. Voss Capital LP now owns 8,100,000 shares of the company's stock worth $94,770,000 after purchasing an additional 5,165,014 shares during the last quarter. Divisadero Street Capital Management LP grew its holdings in Flywire by 178.0% in the 2nd quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company's stock valued at $55,980,000 after buying an additional 3,063,518 shares during the last quarter. Wellington Management Group LLP grew its holdings in Flywire by 173.3% in the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company's stock valued at $45,470,000 after buying an additional 2,129,514 shares during the last quarter. Mangrove Partners IM LLC bought a new position in Flywire in the 3rd quarter worth approximately $39,289,000. Finally, Azora Capital LP bought a new position in Flywire in the 2nd quarter worth approximately $33,355,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Trading Down 0.5%

Shares of NASDAQ FLYW opened at $12.43 on Friday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 124.31, a PEG ratio of 1.08 and a beta of 1.28. Flywire Corporation has a one year low of $8.20 and a one year high of $15.25. The business has a fifty day simple moving average of $12.67 and a 200 day simple moving average of $13.27.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $105.56. The firm had revenue of $157.54 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) EPS. On average, research analysts anticipate that Flywire Corporation will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. B. Riley Financial increased their price objective on Flywire from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, January 9th. Morgan Stanley raised shares of Flywire from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $15.00 to $17.00 in a report on Monday, March 2nd. Truist Financial decreased their price target on shares of Flywire from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. The Goldman Sachs Group dropped their price objective on shares of Flywire from $17.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Flywire in a research report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Flywire currently has a consensus rating of "Hold" and an average price target of $15.58.

Insider Activity at Flywire

In related news, Director Phillip John Riese sold 16,612 shares of the company's stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total value of $250,508.96. Following the sale, the director owned 234,493 shares of the company's stock, valued at $3,536,154.44. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Peter Butterfield sold 9,009 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $13.05, for a total transaction 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 $6,955,154.10. This trade represents a 1.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 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.

Flywire Profile

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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