Penserra Capital Management LLC Makes New Investment in Flywire Corporation (NASDAQ:FLYW)

Penserra Capital Management LLC purchased a new stake in Flywire Corporation (NASDAQ:FLYW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Flywire by 6.9% during the 4th 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. Geode Capital Management LLC boosted its stake in Flywire by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company's stock valued at $58,335,000 after purchasing an additional 28,944 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Flywire by 62.1% during the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company's stock worth $56,533,000 after acquiring an additional 1,049,888 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Flywire by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 1,966,179 shares of the company's stock worth $40,543,000 after acquiring an additional 21,818 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Flywire during the 4th quarter worth $35,579,000. Hedge funds and other institutional investors own 95.90% of the company's stock.

Wall Street Analyst Weigh In

FLYW has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Royal Bank Of Canada cut their price objective on Flywire from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Citigroup reduced 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. JPMorgan Chase & Co. restated an "underweight" rating and set a $9.00 target price (down previously from $16.00) on shares of Flywire in a research note on Monday, April 14th. Finally, Wells Fargo & Company decreased their price target on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $15.00.

Flywire Trading Down 4.2%

Shares of Flywire stock traded down $0.49 on Friday, hitting $11.14. 2,056,136 shares of the company's stock traded hands, compared to its average volume of 1,929,436. Flywire Corporation has a one year low of $8.20 and a one year high of $23.40. The stock has a market capitalization of $1.35 billion, a PE ratio of 278.50, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 2.02. The firm's 50-day moving average price is $11.04 and its two-hundred day moving average price is $13.13.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results 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 firm had revenue of $128.70 million during the quarter, compared to analyst estimates of $124.18 million. Flywire had a net margin of 0.97% and a return on equity of 1.57%. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) EPS. On average, research analysts expect that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Insider Transactions at Flywire

In other news, Director Edwin J. Santos sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $10.50, for a total transaction of $52,500.00. Following the transaction, the director directly owned 16,990 shares of the company's stock, valued at approximately $178,395. This trade represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is owned by company 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.