Readystate Asset Management LP Has $9.08 Million Position in Flywire Corporation (NASDAQ:FLYW)

Readystate Asset Management LP raised its position in Flywire Corporation (NASDAQ:FLYW - Free Report) by 160.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 955,970 shares of the company's stock after purchasing an additional 588,574 shares during the quarter. Readystate Asset Management LP owned 0.77% of Flywire worth $9,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Flywire in the fourth quarter valued at about $77,000. Dakota Wealth Management increased its position in shares of Flywire by 8.7% in the first quarter. Dakota Wealth Management now owns 13,334 shares of the company's stock valued at $127,000 after acquiring an additional 1,066 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Flywire in the fourth quarter valued at about $225,000. State of Wyoming increased 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 acquiring an additional 4,865 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of Flywire in the fourth quarter valued at about $233,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FLYW shares. Royal Bank Of Canada dropped their price objective on Flywire from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Truist Financial upped their price objective on Flywire from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wolfe Research reissued a "peer perform" rating on shares of Flywire in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Flywire in a research report on Thursday, July 17th. They issued a "hold" rating and a $12.00 price objective on the stock. Finally, B. Riley dropped their price objective on shares of Flywire from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.77.

Insider Buying and Selling

In related news, Director Edwin J. Santos sold 5,000 shares of Flywire 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 sale, the director directly owned 16,990 shares in the company, valued at $178,395. This trade represents a 22.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Flywire Price Performance

Shares of FLYW stock traded up $0.30 during trading hours on Wednesday, reaching $11.84. The company's stock had a trading volume of 2,088,691 shares, compared to its average volume of 1,957,642. The firm's 50 day simple moving average is $11.13 and its 200-day simple moving average is $12.68. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 296.00, a PEG ratio of 1.98 and a beta of 1.28. Flywire Corporation has a fifty-two week low of $8.20 and a fifty-two week high of $23.40. 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 (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. Flywire had a return on equity of 1.57% and a net margin of 0.97%. The company had revenue of $128.70 million during the quarter, compared to analysts' expectations of $124.18 million. During the same period in the prior year, the company earned ($0.05) EPS. Flywire's revenue was up 17.0% compared to the same quarter last year. Sell-side analysts forecast that Flywire Corporation will post 0.14 earnings per share for the current year.

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.