Neo Ivy Capital Management Takes Position in Flywire Co. (NASDAQ:FLYW)

Neo Ivy Capital Management purchased a new position in shares of Flywire Co. (NASDAQ:FLYW - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 120,564 shares of the company's stock, valued at approximately $2,486,000. Neo Ivy Capital Management owned about 0.10% of Flywire at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Global Retirement Partners LLC bought a new position in Flywire in the 4th quarter valued at $30,000. Arcadia Investment Management Corp MI bought a new position in Flywire in the 4th quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Flywire in the 4th quarter valued at $77,000. KBC Group NV boosted its position in Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company's stock valued at $101,000 after buying an additional 1,911 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in Flywire in the 4th quarter valued at $104,000. 95.90% of the stock is currently owned by institutional investors.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $11.03 on Friday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 73.53, a PEG ratio of 1.41 and a beta of 1.22. The business has a 50-day moving average of $9.77 and a 200-day moving average of $15.75. Flywire Co. has a fifty-two week low of $8.20 and a fifty-two week high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $128.70 million during the quarter, compared to analysts' expectations of $124.18 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Flywire's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. On average, sell-side analysts expect that Flywire Co. will post 0.14 EPS for the current year.

Analysts Set New Price Targets

FLYW has been the topic of a number of analyst reports. BTIG Research downgraded Flywire from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 26th. Morgan Stanley dropped their price objective on Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Stephens downgraded Flywire from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.62.

Insider Buying and Selling

In related news, Director Gretchen Howard acquired 8,889 shares of the business's stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the transaction, the director now directly owns 30,770 shares of the company's stock, valued at approximately $336,623.80. The trade was a 40.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now owns 247,561 shares of the company's stock, valued at $2,495,414.88. This trade represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

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.

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