Flywire Corporation $FLYW is Mangrove Partners IM LLC's 8th Largest Position

Key Points

• Mangrove Partners increased its Flywire stake by 2.8% in the fourth quarter, making FLYW its 8th largest holding and representing about 3.4% of its portfolio.
• Flywire reported strong quarterly results, with EPS of $0.10 beating estimates and revenue of $184 million topping expectations; revenue also rose 40.9% year over year.
• Wall Street sentiment is improving, with multiple firms raising ratings or price targets, and the stock now carries a Moderate Buy consensus with an average target price of $18.07.

Mangrove Partners IM LLC increased its position in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,984,076 shares of the company's stock after purchasing an additional 82,383 shares during the period. Flywire makes up 3.4% of Mangrove Partners IM LLC's portfolio, making the stock its 8th largest holding. Mangrove Partners IM LLC owned about 2.44% of Flywire worth $42,255,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Voss Capital LP boosted its stake in shares of Flywire by 21.5% during the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company's stock worth $166,380,000 after purchasing an additional 2,080,202 shares during the period. Jennison Associates LLC boosted its stake in shares of Flywire by 35.2% during the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company's stock worth $62,596,000 after purchasing an additional 1,150,802 shares during the period. Wellington Management Group LLP boosted its stake in shares of Flywire by 173.3% during the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company's stock worth $45,470,000 after purchasing an additional 2,129,514 shares during the period. Marshall Wace LLP boosted its stake in shares of Flywire by 32.8% during the 3rd quarter. Marshall Wace LLP now owns 1,851,327 shares of the company's stock worth $25,067,000 after purchasing an additional 456,783 shares during the period. Finally, Primecap Management Co. CA boosted its position in Flywire by 1.8% in the 4th quarter. Primecap Management Co. CA now owns 1,572,500 shares of the company's stock valued at $22,267,000 after buying an additional 27,260 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Stock Performance

NASDAQ:FLYW opened at $15.86 on Wednesday. Flywire Corporation has a one year low of $10.10 and a one year high of $18.05. The firm has a market cap of $1.96 billion, a P/E ratio of 68.96, a P/E/G ratio of 1.05 and a beta of 1.34. The firm has a 50-day simple moving average of $14.64 and a 200-day simple moving average of $13.59.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating 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 business had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The company's quarterly revenue was up 40.9% compared to the same quarter last year. On average, research analysts predict that Flywire Corporation will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FLYW. Morgan Stanley boosted their price objective on shares of Flywire from $17.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised shares of Flywire to an "outperform" rating in a research report on Wednesday, May 27th. Weiss Ratings raised shares of Flywire from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Flywire from a "hold" rating to a "buy" rating in a research report on Sunday, May 24th. Finally, JPMorgan Chase & Co. raised shares of Flywire from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Flywire currently has a consensus rating of "Moderate Buy" and an average target price of $18.07.

Insider Activity

In related news, insider Mohit Kansal sold 16,101 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $15.90, for a total transaction of $256,005.90. Following the completion of the transaction, the insider owned 567,794 shares in the company, valued at $9,027,924.60. The trade was a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Massaro sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $16.39, for a total transaction of $819,500.00. Following the transaction, the chief executive officer owned 2,766,035 shares of the company's stock, valued at approximately $45,335,313.65. This trade represents a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 295,670 shares of company stock worth $4,950,820 over the last 90 days. 5.00% of the stock is currently owned by insiders.

Flywire 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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