Penserra Capital Management LLC Purchases New Position in Flywire Corporation (NASDAQ:FLYW)

Penserra Capital Management LLC purchased a new stake in Flywire Corporation (NASDAQ:FLYW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 165,719 shares of the company's stock, valued at approximately $1,574,000. Penserra Capital Management LLC owned about 0.13% of Flywire as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its stake in Flywire by 38.4% during the fourth quarter. Sei Investments Co. now owns 110,144 shares of the company's stock worth $2,271,000 after purchasing an additional 30,572 shares during the period. Janney Montgomery Scott LLC lifted its stake in Flywire by 571.3% during the first quarter. Janney Montgomery Scott LLC now owns 77,708 shares of the company's stock worth $738,000 after purchasing an additional 66,133 shares during the period. Vanguard Group Inc. lifted its stake in Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after purchasing an additional 781,711 shares during the period. ABS Direct Equity Fund LLC bought a new position in Flywire during the first quarter worth about $950,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Flywire during the fourth quarter worth about $947,000. Institutional investors own 95.90% of the company's stock.

Insider Buying and Selling at Flywire

In other news, Director Edwin J. Santos sold 5,466 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.04, for a total transaction of $54,878.64. Following the transaction, the director directly owned 21,990 shares in the company, valued at $220,779.60. The trade was a 19.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wolfe Research reiterated a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. Citigroup cut their target price on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 24th. The Goldman Sachs Group lifted their target price on shares of Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. B. Riley cut their target price on shares of Flywire from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada lowered their price target on shares of Flywire from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $15.00.

Flywire Stock Down 4.4%

FLYW traded down $0.53 during trading on Thursday, hitting $11.63. The company had a trading volume of 1,804,363 shares, compared to its average volume of 1,923,784. The firm's 50-day moving average price is $11.01 and its 200 day moving average price is $13.24. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Flywire Corporation has a one year low of $8.20 and a one year high of $23.40. The company has a market capitalization of $1.41 billion, a PE ratio of 290.75, a PEG ratio of 1.65 and a beta of 1.28.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. Flywire had a net margin of 0.97% and a return on equity of 1.57%. The firm had revenue of $128.70 million for the quarter, compared to analysts' expectations of $124.18 million. During the same period in the previous year, the firm posted ($0.05) EPS. The company's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts expect that Flywire Corporation will post 0.14 earnings per share for the current year.

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.