BNP Paribas Financial Markets Raises Holdings in Flywire Corporation $FLYW

Key Points

• BNP Paribas Financial Markets more than doubled its Flywire stake in Q4, buying an additional 520,256 shares and bringing its total holding to 1,023,958 shares worth about $14.5 million.
• Flywire reported stronger-than-expected quarterly results, with EPS of $0.10 versus a $0.03 estimate and revenue of $184 million, up 40.9% year over year.
• Insiders have been trimming positions, including COO Rob Orgel selling 178,980 shares and Director Phillip John Riese selling 5,000 shares, while analysts currently rate the stock Moderate Buy with a consensus target price of $18.07.

BNP Paribas Financial Markets raised its stake in Flywire Corporation (NASDAQ:FLYW - Free Report) by 103.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,023,958 shares of the company's stock after purchasing an additional 520,256 shares during the period. BNP Paribas Financial Markets owned about 0.84% of Flywire worth $14,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in Flywire in the fourth quarter valued at $32,000. Daiwa Securities Group Inc. boosted its holdings in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock valued at $66,000 after purchasing an additional 2,497 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Flywire in the second quarter valued at approximately $119,000. Russell Investments Group Ltd. raised its holdings in Flywire by 220.8% during the third quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company's stock worth $138,000 after purchasing an additional 7,031 shares in the last quarter. Finally, Allegheny Financial Group acquired a new stake in Flywire during the third quarter worth approximately $147,000. Hedge funds and other institutional investors own 95.90% of the company's stock.

Flywire Stock Performance

Shares of FLYW opened at $14.40 on Monday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 62.61, a P/E/G ratio of 0.99 and a beta of 1.34. Flywire Corporation has a 1 year low of $10.09 and a 1 year high of $18.05. The company's fifty day moving average is $14.22 and its two-hundred day moving average is $13.52.

Flywire (NASDAQ:FLYW - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company had revenue of $184.00 million during the quarter, compared to analysts' expectations of $170.24 million. During the same quarter last year, the business earned ($0.03) EPS. The business's revenue was up 40.9% on a year-over-year basis. Sell-side analysts predict that Flywire Corporation will post 0.42 EPS for the current year.

Insider Transactions at Flywire

In other news, COO Rob Orgel sold 178,980 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the sale, the chief operating officer owned 959,061 shares of the company's stock, valued at $16,304,037. The trade was a 15.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Phillip John Riese sold 5,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.43, for a total value of $77,150.00. Following the completion of the sale, the director directly owned 234,493 shares in the company, valued at $3,618,226.99. This trade represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 289,482 shares of company stock valued at $4,861,713. 5.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FLYW shares. Wall Street Zen upgraded shares of Flywire from a "hold" rating to a "buy" rating in a research note on Sunday, May 24th. Zacks Research raised Flywire from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 20th. BTIG Research lifted their target price on Flywire from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. UBS Group boosted their target price on Flywire from $14.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised Flywire from an "underweight" rating to a "neutral" rating and upped their target price for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.07.

Flywire Company 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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