First Eagle Investment Management LLC Increases Stock Holdings in Flywire Corporation $FLYW

Key Points

• First Eagle Investment Management increased its Flywire stake by 60.6% in the fourth quarter, bringing its holdings to 430,337 shares worth about $6.1 million.
• Flywire reported a strong quarterly update, posting EPS of $0.10 versus the $0.03 estimate and revenue of $184 million, up 40.9% year over year.
• Analyst sentiment remains constructive, with a Moderate Buy consensus and an average price target of $18.17, while several insiders recently sold shares.

First Eagle Investment Management LLC boosted its stake in Flywire Corporation (NASDAQ:FLYW - Free Report) by 60.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 430,337 shares of the company's stock after acquiring an additional 162,348 shares during the period. First Eagle Investment Management LLC owned 0.35% of Flywire worth $6,094,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FLYW. Covestor Ltd lifted its position in shares of Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company's stock worth $43,000 after purchasing an additional 2,216 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock valued at $66,000 after buying an additional 2,497 shares during the period. State of Alaska Department of Revenue bought a new position in Flywire in the third quarter worth about $67,000. Arrowstreet Capital Limited Partnership bought a new position in Flywire in the second quarter worth about $119,000. Finally, Russell Investments Group Ltd. lifted its holdings in Flywire by 220.8% in the third quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company's stock worth $138,000 after buying an additional 7,031 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Peter Butterfield sold 9,009 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $13.05, for a total transaction of $117,567.45. Following the transaction, the general counsel directly owned 532,962 shares of the company's stock, valued at $6,955,154.10. This represents a 1.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Phillip John Riese sold 37,921 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total value of $639,727.27. Following the completion of the transaction, the director directly owned 234,493 shares in the company, valued at approximately $3,955,896.91. This represents a 13.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 114,511 shares of company stock valued at $1,859,470. Corporate insiders own 4.40% of the company's stock.

Flywire Price Performance

NASDAQ:FLYW opened at $15.83 on Thursday. The firm has a market capitalization of $1.92 billion, a P/E ratio of 68.83, a PEG ratio of 1.19 and a beta of 1.30. Flywire Corporation has a one year low of $9.97 and a one year high of $18.05. The company's 50-day simple moving average is $13.16 and its 200 day simple moving average is $13.27.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The firm's quarterly revenue was up 40.9% compared to the same quarter last year. On average, equities research analysts expect that Flywire Corporation will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FLYW shares. Truist Financial cut their price objective on Flywire from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Morgan Stanley increased their target price on Flywire from $17.00 to $20.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on Flywire from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Wednesday, February 25th. BTIG Research upped their price target on Flywire from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, UBS Group increased their price objective on Flywire from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.17.

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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