Fred Alger Management LLC Trims Position in Flywire Corporation $FLYW

Key Points

• Fred Alger Management LLC has reduced its stake in Flywire Corporation by 39.0% during the 1st quarter, now owning 488,409 shares valued at approximately $4.64 million.
• Flywire recently reported a quarterly revenue of $127.50 million, surpassing analyst expectations, but missed on earnings per share, posting ($0.09) against a consensus estimate of ($0.07).
• Wall Street analysts hold a mixed view on Flywire, with a consensus rating of "Hold", as five analysts suggest a Buy and nine recommend a Hold on the stock.

Fred Alger Management LLC cut its holdings in Flywire Corporation (NASDAQ:FLYW - Free Report) by 39.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 488,409 shares of the company's stock after selling 311,855 shares during the period. Fred Alger Management LLC owned approximately 0.40% of Flywire worth $4,640,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Flywire during the fourth quarter worth about $77,000. JT Stratford LLC bought a new position in Flywire in the 1st quarter valued at approximately $109,000. Dakota Wealth Management raised its holdings in Flywire by 8.7% in the 1st quarter. Dakota Wealth Management now owns 13,334 shares of the company's stock valued at $127,000 after buying an additional 1,066 shares during the last quarter. AE Wealth Management LLC bought a new position in Flywire in the 1st quarter valued at approximately $130,000. Finally, Fox Run Management L.L.C. bought a new position in Flywire in the 1st quarter valued at approximately $153,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FLYW. Deutsche Bank Aktiengesellschaft began coverage on shares of Flywire in a research report on Thursday, July 17th. They set a "hold" rating and a $12.00 price objective for the company. Truist Financial increased their target price on Flywire from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. UBS Group increased their target price on Flywire from $11.50 to $13.50 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. B. Riley cut their target price on Flywire from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, June 23rd. Finally, Wall Street Zen upgraded Flywire from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Flywire has an average rating of "Hold" and a consensus price target of $13.71.

Flywire Stock Performance

FLYW traded down $0.39 during trading hours on Friday, hitting $13.35. The stock had a trading volume of 2,953,971 shares, compared to its average volume of 1,788,371. The company's fifty day simple moving average is $12.10 and its 200 day simple moving average is $10.89. Flywire Corporation has a 1 year low of $8.20 and a 1 year high of $23.40. The stock has a market cap of $1.63 billion, a PE ratio of 267.00, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.08.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Flywire had a return on equity of 1.94% and a net margin of 1.27%.The firm had revenue of $127.50 million during the quarter, compared to analysts' expectations of $119.65 million. During the same period last year, the business posted ($0.11) EPS. The company's revenue was up 27.2% compared to the same quarter last year. Flywire has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts anticipate that Flywire Corporation will post 0.14 earnings per share for the current year.

Flywire Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.