First Eagle Investment Management LLC Purchases 151,500 Shares of Flywire Corporation $FLYW

Key Points

• First Eagle Investment Management increased its stake in Flywire by 130.1%, buying 151,500 shares to hold 267,989 shares worth about $3.63 million (≈0.22% of the company) after the 3rd quarter filing.
• Flywire reported a strong quarter with revenue of $157.54 million (up 34% year-over-year) and an EPS surprise, but analysts remain mixed with a consensus "Hold" rating and an average price target of $15.58.
• Insider activity includes Director Phillip John Riese selling 16,612 shares and major shareholder Voss Capital buying 25,000 shares; over the last 90 days insiders bought 251,112 shares and sold 38,426, and insiders now own 4.40% of the company.

First Eagle Investment Management LLC grew its holdings in Flywire Corporation (NASDAQ:FLYW - Free Report) by 130.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 267,989 shares of the company's stock after purchasing an additional 151,500 shares during the quarter. First Eagle Investment Management LLC owned about 0.22% of Flywire worth $3,629,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Flywire by 194.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company's stock worth $38,000 after buying an additional 2,167 shares in the last quarter. Covestor Ltd grew its holdings 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 last quarter. Daiwa Securities Group Inc. grew its stake in Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock worth $66,000 after buying an additional 2,497 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Flywire during the 3rd quarter valued at $67,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flywire in the second quarter valued at $119,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Insider Buying and Selling at Flywire

In other Flywire news, Director Phillip John Riese sold 16,612 shares of Flywire stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total transaction of $250,508.96. Following the transaction, the director directly owned 234,493 shares in the company, valued at approximately $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 accessible through this link. Also, major shareholder Voss Capital, Lp bought 25,000 shares of the firm's stock in a transaction on Friday, February 13th. The stock was acquired at an average cost of $10.99 per share, with a total value of $274,750.00. Following the completion of the purchase, the insider owned 2,300,000 shares of the company's stock, valued at approximately $25,277,000. This trade represents a 1.10% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 251,112 shares of company stock valued at $3,477,834 and sold 38,426 shares valued at $567,215. Insiders own 4.40% of the company's stock.

Flywire Stock Up 2.3%

FLYW stock opened at $12.85 on Thursday. Flywire Corporation has a twelve month low of $8.20 and a twelve month high of $15.25. The business's fifty day moving average is $12.84 and its 200-day moving average is $13.25. The company has a market cap of $1.57 billion, a P/E ratio of 128.51, a price-to-earnings-growth ratio of 1.26 and a beta of 1.28.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FLYW shares. Citigroup reduced their target price on shares of Flywire from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, February 26th. UBS Group reduced their price objective on Flywire from $15.50 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Zacks Research upgraded Flywire from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 19th. The Goldman Sachs Group dropped their target price on Flywire from $17.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, February 25th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $19.00 price target on shares of Flywire in a research note on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $15.58.

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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