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

Readystate Asset Management LP boosted its position in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 160.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 955,970 shares of the company's stock after acquiring an additional 588,574 shares during the period. Readystate Asset Management LP owned 0.77% of Flywire worth $9,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. increased its stake in Flywire by 38.4% in the fourth quarter. Sei Investments Co. now owns 110,144 shares of the company's stock valued at $2,271,000 after acquiring an additional 30,572 shares during the period. Janney Montgomery Scott LLC boosted its position in Flywire by 571.3% in the first quarter. Janney Montgomery Scott LLC now owns 77,708 shares of the company's stock valued at $738,000 after buying an additional 66,133 shares in the last quarter. ABS Direct Equity Fund LLC acquired a new position in shares of Flywire during the first quarter worth approximately $950,000. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Flywire by 292.1% during the fourth quarter. Renaissance Technologies LLC now owns 254,400 shares of the company's stock worth $5,246,000 after purchasing an additional 189,521 shares in the last quarter. Institutional investors own 95.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on FLYW shares. B. Riley cut their price objective on shares of Flywire from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, June 23rd. JPMorgan Chase & Co. reissued an "underweight" rating and set a $9.00 price objective (down previously from $16.00) on shares of Flywire in a research report on Monday, April 14th. Truist Financial increased their price objective on shares of Flywire from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Flywire in a research report on Thursday, July 17th. They issued a "hold" rating and a $12.00 target price for the company. Finally, Wolfe Research restated a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $14.77.

Flywire Price Performance

FLYW stock traded up $0.20 during mid-day trading on Tuesday, hitting $11.41. The stock had a trading volume of 1,163,934 shares, compared to its average volume of 1,942,289. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.08. Flywire Corporation has a 52 week low of $8.20 and a 52 week high of $23.40. The firm has a market capitalization of $1.39 billion, a P/E ratio of 284.38, a P/E/G ratio of 1.86 and a beta of 1.28. The firm has a fifty day simple moving average of $11.10 and a 200 day simple moving average of $12.76.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $128.70 million for the quarter, compared to analyst estimates of $124.18 million. During the same period in the previous year, the firm posted ($0.05) EPS. The firm's revenue was up 17.0% on a year-over-year basis. As a group, research analysts forecast that Flywire Corporation will post 0.14 EPS for the current year.

Insider Activity

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 transaction, the director 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 filing with the SEC, which is accessible through this hyperlink. 4.40% of the stock is owned by insiders.

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.

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