Flywire Corporation $FLYW Shares Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC sharply increased its Flywire stake in the fourth quarter, boosting holdings by 372.4% to 105,448 shares worth about $1.49 million.
• Several analysts turned more positive on Flywire, including upgrades from Deutsche Bank and Raymond James; the stock now has a consensus rating of Moderate Buy with an average price target of $18.07.
• Flywire reported stronger-than-expected quarterly results, with EPS of $0.10 and revenue of $184 million, up 40.9% year over year, even as executives continued selling shares.

AlphaQuest LLC grew its position in Flywire Corporation (NASDAQ:FLYW - Free Report) by 372.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,448 shares of the company's stock after purchasing an additional 83,128 shares during the quarter. AlphaQuest LLC owned approximately 0.09% of Flywire worth $1,493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Flywire in the 4th quarter valued at $32,000. Covestor Ltd raised its stake in Flywire by 217.9% during the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company's stock worth $43,000 after acquiring an additional 2,216 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock worth $66,000 after acquiring an additional 2,497 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Flywire during the 2nd quarter worth $119,000. Finally, Russell Investments Group Ltd. raised its stake 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 institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLYW has been the topic of several research analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $22.00 price target on shares of Flywire in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an "outperform" rating in a research note on Wednesday. Truist Financial lifted their price target on shares of Flywire from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, May 19th. Wall Street Zen upgraded shares of Flywire from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, UBS Group lifted their price target on shares of Flywire from $14.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.07.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 9,009 shares of the business's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $13.05, for a total transaction of $117,567.45. Following the sale, the general counsel owned 532,962 shares of the company's stock, valued at approximately $6,955,154.10. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Massaro sold 50,000 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $16.39, for a total transaction of $819,500.00. Following the sale, the chief executive officer directly owned 2,766,035 shares in the company, valued at approximately $45,335,313.65. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 114,511 shares of company stock valued at $1,859,470. Company insiders own 4.40% of the company's stock.

Flywire Stock Performance

Shares of Flywire stock opened at $15.81 on Thursday. Flywire Corporation has a 1 year low of $9.97 and a 1 year high of $18.05. The company has a market capitalization of $1.95 billion, a P/E ratio of 68.74, a PEG ratio of 1.10 and a beta of 1.30. The company's fifty day moving average is $13.79 and its two-hundred day moving average is $13.45.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. During the same period last year, the firm posted ($0.03) EPS. Flywire's revenue for the quarter was up 40.9% on a year-over-year basis. As a group, equities analysts expect that Flywire Corporation will post 0.42 earnings per share for the current year.

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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