Penserra Capital Management LLC Invests $1.57 Million 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 filing 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FLYW. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Flywire during the 4th quarter worth about $77,000. GAMMA Investing LLC raised its holdings in Flywire by 23,876.5% in the 1st quarter. GAMMA Investing LLC now owns 4,076 shares of the company's stock valued at $429,000 after acquiring an additional 4,059 shares during the period. Cetera Investment Advisers acquired a new stake in Flywire during the fourth quarter worth approximately $225,000. State of Wyoming grew its position in shares of Flywire by 80.1% in the fourth quarter. State of Wyoming now owns 10,939 shares of the company's stock valued at $226,000 after purchasing an additional 4,865 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of Flywire during the fourth quarter worth approximately $233,000. Institutional investors own 95.90% of the company's stock.

Insiders Place Their Bets

In related news, Director Edwin J. Santos sold 5,000 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $10.50, for a total transaction of $52,500.00. Following the sale, the director owned 16,990 shares in the company, valued at $178,395. This represents a 22.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company's stock.

Flywire Trading Up 3.1%

NASDAQ FLYW traded up $0.37 on Wednesday, hitting $12.16. The company's stock had a trading volume of 2,565,800 shares, compared to its average volume of 1,919,196. The firm has a market cap of $1.48 billion, a PE ratio of 304.00, a PEG ratio of 1.61 and a beta of 1.28. The company's 50-day moving average is $10.92 and its 200 day moving average is $13.31. 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 1-year low of $8.20 and a 1-year high of $23.40.

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

Analyst Ratings Changes

Several research firms recently issued reports on FLYW. JPMorgan Chase & Co. restated an "underweight" rating and issued a $9.00 price target (down from $16.00) on shares of Flywire in a research note on Monday, April 14th. The Goldman Sachs Group boosted their price objective on shares of Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Wells Fargo & Company lowered their target price on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. B. Riley cut their price target on Flywire from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Finally, Truist Financial initiated coverage on Flywire in a research note on Monday, June 2nd. They set a "buy" rating and a $12.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $15.00.

Flywire 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.