Rock Creek Group LP Trims Stock Position in Flywire Corporation $FLYW

Key Points

• Rock Creek Group LP cut its Flywire position by 55.6% in the fourth quarter, selling 125,000 shares and ending with 100,000 shares worth about $1.4 million.
• Flywire posted better-than-expected results for its latest quarter, reporting EPS of $0.10 versus $0.03 expected and revenue of $184 million, up 40.9% year over year.
• Analysts remain cautiously optimistic on Flywire, with an average rating of “Moderate Buy” and an average price target of $18.07, while insiders have also been selling shares recently.

Rock Creek Group LP lowered its stake in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 55.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 100,000 shares of the company's stock after selling 125,000 shares during the period. Rock Creek Group LP owned about 0.08% of Flywire worth $1,416,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FLYW. Mangrove Partners IM LLC purchased a new position in shares of Flywire during the 3rd quarter valued at about $39,289,000. Wellington Management Group LLP increased its stake in shares of Flywire by 173.3% in the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company's stock valued at $45,470,000 after purchasing an additional 2,129,514 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Flywire by 35.2% in the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company's stock valued at $62,596,000 after purchasing an additional 1,150,802 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new position in shares of Flywire in the 3rd quarter valued at about $15,433,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Flywire by 430.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,289,540 shares of the company's stock valued at $15,088,000 after purchasing an additional 1,046,544 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

Insider Transactions at Flywire

In other Flywire news, Director Phillip John Riese sold 37,921 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total transaction of $639,727.27. Following the completion of the sale, the director directly owned 234,493 shares in the company, valued at approximately $3,955,896.91. The trade was a 13.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 1,480 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.02, for a total value of $26,669.60. Following the sale, the general counsel owned 671,482 shares of the company's stock, valued at approximately $12,100,105.64. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 114,511 shares of company stock valued at $1,859,470 in the last 90 days. Corporate insiders own 4.40% of the company's stock.

Flywire Trading Up 1.2%

NASDAQ:FLYW opened at $16.04 on Friday. Flywire Corporation has a 12 month low of $9.97 and a 12 month high of $18.05. The stock has a 50 day moving average of $13.93 and a two-hundred day moving average of $13.48. The firm has a market cap of $1.98 billion, a P/E ratio of 69.74, a price-to-earnings-growth ratio of 1.09 and a beta of 1.30.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same period in the previous year, the business earned ($0.03) EPS. Flywire's quarterly revenue was up 40.9% on a year-over-year basis. On average, research analysts forecast that Flywire Corporation will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FLYW shares. The Goldman Sachs Group restated a "neutral" rating and issued a $17.00 price target on shares of Flywire in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded Flywire to an "outperform" rating in a research note on Wednesday. UBS Group lifted their price target on Flywire from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Zacks Research upgraded Flywire from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 20th. Finally, Truist Financial lifted their price target on Flywire from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.07.

About Flywire

Flywire Corp NASDAQ: FLYW is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire's technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.

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