CIBC Private Wealth Group LLC Makes New $1.25 Million Investment in Flywire Corporation $FLYW

Key Points

• CIBC Private Wealth Group LLC initiated a new stake in Flywire, purchasing 92,536 shares worth about $1.25 million, roughly 0.08% of the company.
• Flywire beat revenue expectations with quarterly revenue of $157.54 million (up 34% year-over-year), and analysts forecast about 0.14 EPS for the current year while the company has a market cap of $1.44 billion.
• Analyst views are mixed—Flywire has a consensus Hold rating and a $15.58 target price—and ownership is heavily institutional (~95.9%) while insiders have been net buyers recently.

CIBC Private Wealth Group LLC bought a new stake in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 92,536 shares of the company's stock, valued at approximately $1,253,000. CIBC Private Wealth Group LLC owned approximately 0.08% of Flywire as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd grew its position in shares of Flywire by 217.9% during the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company's stock worth $43,000 after buying an additional 2,216 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of 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 acquiring an additional 2,497 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Flywire in the third quarter worth about $67,000. Arrowstreet Capital Limited Partnership purchased a new stake in Flywire in the second quarter worth about $119,000. Finally, Russell Investments Group Ltd. grew its holdings in Flywire by 220.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company's stock worth $138,000 after acquiring an additional 7,031 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on FLYW shares. Weiss Ratings restated a "sell (d)" rating on shares of Flywire in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Flywire from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Royal Bank Of Canada lifted their price objective on shares of Flywire from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, February 25th. UBS Group reduced their price objective on shares of Flywire from $15.50 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Finally, Citigroup lowered their target price on Flywire from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Flywire currently has a consensus rating of "Hold" and a consensus target price of $15.58.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $11.91 on Monday. The business's 50-day moving average is $12.44 and its 200 day moving average is $13.24. Flywire Corporation has a 1 year low of $8.20 and a 1 year high of $15.25. The firm has a market capitalization of $1.44 billion, a P/E ratio of 119.11, a P/E/G ratio of 1.04 and a beta of 1.28.

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

Insider Buying and Selling

In other Flywire news, Director Phillip John Riese sold 16,612 shares of the business's stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total transaction of $250,508.96. Following the sale, the director owned 234,493 shares of the company's stock, valued at approximately $3,536,154.44. The trade was a 6.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Voss Capital, Lp purchased 25,000 shares of the business's stock in a transaction on Friday, February 13th. The shares were bought at an average price of $10.99 per share, for a total transaction of $274,750.00. Following the purchase, the insider directly owned 2,300,000 shares in the company, valued at $25,277,000. This represents a 1.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 251,112 shares of company stock worth $3,477,834 and sold 39,315 shares worth $573,620. 4.40% of the stock is owned by company insiders.

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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