Penserra Capital Management LLC Invests $1.57 Million in Flywire Corporation (NASDAQ:FLYW)

Penserra Capital Management LLC acquired a new position in Flywire Corporation (NASDAQ:FLYW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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 SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Flywire during the 4th quarter worth approximately $77,000. Cetera Investment Advisers purchased a new stake in Flywire during the 4th quarter worth approximately $225,000. State of Wyoming grew its position in Flywire by 80.1% during the 4th quarter. State of Wyoming now owns 10,939 shares of the company's stock worth $226,000 after purchasing an additional 4,865 shares during the last quarter. Cibc World Markets Corp purchased a new stake in Flywire during the 4th quarter worth approximately $233,000. Finally, Vident Advisory LLC purchased a new stake in Flywire during the 4th quarter worth approximately $235,000. Hedge funds and other institutional investors own 95.90% of the company's stock.

Flywire Price Performance

NASDAQ:FLYW traded down $0.41 during trading hours on Thursday, reaching $11.76. 401,292 shares of the company were exchanged, compared to its average volume of 2,568,358. 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 $10.97 and its 200-day moving average is $13.30. The firm has a market cap of $1.43 billion, a PE ratio of 293.88, a price-to-earnings-growth ratio of 1.60 and a beta of 1.28. 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 posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 0.97% and a return on equity of 1.57%. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, sell-side analysts anticipate that Flywire Corporation will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLYW has been the subject of several research reports. Citigroup decreased their price objective 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 price objective 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. JPMorgan Chase & Co. restated an "underweight" rating and set a $9.00 price objective (down from $16.00) on shares of Flywire in a research note on Monday, April 14th. Royal Bank Of Canada decreased their target price 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. Finally, Wells Fargo & Company decreased their target price on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Flywire has an average rating of "Hold" and an average price target of $15.00.

Insiders Place Their Bets

In other Flywire news, Director Edwin J. Santos sold 5,466 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $10.04, for a total transaction of $54,878.64. Following the completion of the transaction, the director directly owned 21,990 shares in the company, valued at approximately $220,779.60. This represents a 19.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Flywire Company 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.