GSA Capital Partners LLP Takes $607,000 Position in Flywire Corporation (NASDAQ:FLYW)

Key Points

• GSA Capital Partners LLP acquired 63,855 shares of Flywire Corporation in the first quarter, representing about $607,000, which indicates growing interest from institutional investors.
• Flywire's recent earnings report showed a 17.0% year-over-year revenue increase to $128.70 million, along with an earnings per share of $0.03, exceeding analyst expectations.
• The firm's stock has seen mixed ratings from analysts, with average price target estimates around $14.77, with strong buy, hold, and sell recommendations reflected in the recent reports.

GSA Capital Partners LLP purchased a new position in Flywire Corporation (NASDAQ:FLYW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 63,855 shares of the company's stock, valued at approximately $607,000. GSA Capital Partners LLP owned 0.05% of Flywire as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Federated Hermes Inc. bought a new stake in Flywire during the 1st quarter valued at $11,733,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Flywire by 34.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,709 shares of the company's stock worth $406,000 after purchasing an additional 10,840 shares during the period. Norwood Investment Partners LP increased its stake in shares of Flywire by 2.5% in the first quarter. Norwood Investment Partners LP now owns 445,546 shares of the company's stock worth $4,233,000 after purchasing an additional 11,000 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Flywire during the 1st quarter valued at approximately $130,000. Finally, Readystate Asset Management LP boosted its holdings in Flywire by 160.2% in the 1st quarter. Readystate Asset Management LP now owns 955,970 shares of the company's stock worth $9,082,000 after buying an additional 588,574 shares during the period. 95.90% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Edwin J. Santos sold 5,000 shares of Flywire stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.50, for a total value of $52,500.00. Following the transaction, the director directly owned 16,990 shares in the company, valued at $178,395. The trade was a 22.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is owned by corporate insiders.

Flywire Price Performance

NASDAQ:FLYW traded up $1.74 during trading hours on Wednesday, reaching $12.12. 7,241,540 shares of the company were exchanged, compared to its average volume of 2,325,679. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock's 50-day moving average is $11.10 and its 200-day moving average is $12.13. The firm has a market cap of $1.47 billion, a PE ratio of 242.40, a price-to-earnings-growth ratio of 2.30 and a beta of 1.27. Flywire Corporation has a twelve month low of $8.20 and a twelve month high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $127.50 million during the quarter, compared to analyst estimates of $119.65 million. Flywire had a net margin of 1.27% and a return on equity of 1.93%. The firm's revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share. On average, sell-side analysts anticipate that Flywire Corporation will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FLYW shares. Truist Financial increased their target price on Flywire from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $9.00 price target (down from $16.00) on shares of Flywire in a report on Monday, April 14th. Royal Bank Of Canada reduced their price objective on shares of Flywire from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group lifted their target price on shares of Flywire from $10.00 to $12.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen lowered Flywire from a "hold" rating to a "sell" rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Flywire presently has an average rating of "Hold" and a consensus price target of $14.65.

About Flywire

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.