CenterBook Partners LP Acquires New Shares in Flywire Corporation $FLYW

Key Points

• CenterBook Partners initiated a Flywire position, buying 159,442 shares worth about $2.79 million, or approximately 0.13% of the company. Institutional investors and hedge funds collectively own 95.9% of Flywire’s stock.
• Flywire reported quarterly EPS of $0.57, beating the $0.31 consensus, and revenue of $250.3 million versus expectations of $233.25 million; revenue rose 25.1% year over year. Analysts’ consensus rating is Hold, with an average price target of $22.27.
• Insiders and major shareholder Voss Capital sold shares recently; insiders sold 653,996 shares valued at about $12.47 million over the past 90 days. Company insiders own 5.0% of the stock.

CenterBook Partners LP bought a new position in Flywire Corporation (NASDAQ:FLYW - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 159,442 shares of the company's stock, valued at approximately $2,790,000. CenterBook Partners LP owned approximately 0.13% of Flywire as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Flywire by 30.6% in the third quarter. Nisa Investment Advisors LLC now owns 5,986 shares of the company's stock worth $105,000 after acquiring an additional 1,403 shares during the last quarter. IFP Advisors Inc boosted its position in Flywire by 168.7% during the third quarter. IFP Advisors Inc now owns 2,483 shares of the company's stock valued at $43,000 after purchasing an additional 1,559 shares during the last quarter. Essential Partners LLC boosted its position in Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company's stock valued at $27,000 after purchasing an additional 1,571 shares during the last quarter. Nykredit A S purchased a new position in Flywire in the second quarter valued at about $29,000. Finally, Allworth Financial LP grew its stake in Flywire by 126.8% in the second quarter. Allworth Financial LP now owns 4,022 shares of the company's stock valued at $71,000 after purchasing an additional 2,249 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FLYW. B. Riley Financial reaffirmed a "buy" rating and issued a $25.00 target price (up from $24.00) on shares of Flywire in a research report on Wednesday. Wolfe Research lifted their price target on Flywire from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. The Goldman Sachs Group reissued a "neutral" rating and issued a $22.00 price target on shares of Flywire in a research note on Wednesday, August 5th. Morgan Stanley increased their price objective on Flywire from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Citigroup raised their price objective on shares of Flywire from $19.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.27.

Insider Activity

In related news, insider David R. King sold 55,325 shares of the company's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $20.05, for a total transaction of $1,109,266.25. Following the completion of the sale, the insider directly owned 147,079 shares of the company's stock, valued at approximately $2,948,933.95. This represents a 27.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp sold 172,973 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the completion of the transaction, the insider owned 369,168 shares in the company, valued at $7,084,333.92. The trade was a 31.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 653,996 shares of company stock valued at $12,466,115 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Flywire Stock Performance

Shares of FLYW stock opened at $21.57 on Friday. The stock's 50 day simple moving average is $18.45 and its 200 day simple moving average is $15.69. Flywire Corporation has a twelve month low of $10.55 and a twelve month high of $22.17. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.37 and a beta of 1.32.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.26. The firm had revenue of $250.30 million during the quarter, compared to analysts' expectations of $233.25 million. Flywire had a return on equity of 9.25% and a net margin of 10.34%. The company's revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. On average, analysts forecast that Flywire Corporation will post 0.40 EPS for the current fiscal year.

Flywire Company Profile

Flywire Corp. NASDAQ: FLYW is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.

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