Flywire Corporation $FLYW Shares Bought by North Reef Capital Management LP

Key Points

• North Reef Capital Management increased its stake in Flywire by 83.3% in the first quarter, buying nearly 500,000 additional shares and bringing its holding to 1.1 million shares worth about $12.8 million.
• Flywire’s latest earnings beat expectations, with quarterly EPS of $0.10 versus $0.03 estimated and revenue of $184 million topping forecasts; revenue also rose 40.9% year over year.
• Analyst sentiment remains mixed but constructive, with a consensus rating of Moderate Buy and an average price target of $18.69, while several firms recently raised their targets.

North Reef Capital Management LP boosted its stake in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 83.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,100,000 shares of the company's stock after buying an additional 499,999 shares during the quarter. North Reef Capital Management LP owned 0.91% of Flywire worth $12,804,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FLYW. Royal Bank of Canada lifted its holdings in shares of Flywire by 13.6% in the 4th quarter. Royal Bank of Canada now owns 9,025 shares of the company's stock worth $128,000 after acquiring an additional 1,081 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Flywire in the 4th quarter valued at approximately $32,000. Daiwa Securities Group Inc. raised its position in 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 purchasing an additional 2,497 shares during the period. Leonteq Securities AG raised its position in Flywire by 267.6% in the first quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock valued at $41,000 after purchasing an additional 2,577 shares during the period. Finally, KBC Group NV acquired a new position in Flywire during the first quarter worth $38,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Stock Performance

NASDAQ:FLYW opened at $15.89 on Friday. Flywire Corporation has a 1 year low of $10.10 and a 1 year high of $18.98. The stock has a market cap of $1.96 billion, a P/E ratio of 69.09, a P/E/G ratio of 1.62 and a beta of 1.32. The stock has a 50-day simple moving average of $16.47 and a 200-day simple moving average of $14.20.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its 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. The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The business's quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) EPS. On average, equities research analysts predict that Flywire Corporation will post 0.28 EPS for the current year.

Insider Buying and Selling

In other news, COO Rob Orgel sold 178,980 shares of Flywire stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the sale, the chief operating officer owned 959,061 shares in the company, valued at approximately $16,304,037. The trade was a 15.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Phillip John Riese sold 37,921 shares of the business's 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 sale, the director directly owned 234,493 shares of the company's stock, valued at $3,955,896.91. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 410,391 shares of company stock valued at $6,700,493 over the last three months. 5.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley raised their price target on Flywire from $17.00 to $20.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. UBS Group boosted their price objective on Flywire from $14.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Citigroup increased their target price on Flywire from $13.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. The Goldman Sachs Group raised their target price on Flywire from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised Flywire from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.69.

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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