Squarepoint Ops LLC Boosts Stock Position in Flywire Corporation $FLYW

Key Points

• Squarepoint Ops LLC increased its Flywire position by 158.4% in the second quarter, acquiring 330,622 additional shares and bringing its total to 539,307 shares valued at approximately $9.5 million. Institutional investors collectively own 95.9% of the company.
• Flywire insiders sold 670,439 shares worth approximately $12.3 million over the past 90 days, including sales by major shareholder Voss Capital and CEO Michael Massaro.
• Flywire reported 27.2% year-over-year revenue growth to $163.8 million, exceeding estimates, but missed quarterly EPS expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $20.23, compared with the stock’s $17.75 opening price.

Squarepoint Ops LLC grew its position in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 158.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 539,307 shares of the company's stock after purchasing an additional 330,622 shares during the quarter. Squarepoint Ops LLC owned approximately 0.44% of Flywire worth $9,476,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FLYW. Essential Partners LLC lifted its position in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company's stock worth $27,000 after buying an additional 1,571 shares during the last quarter. Nykredit A S bought a new position in Flywire during the second quarter valued at approximately $29,000. Global Retirement Partners LLC purchased a new position in shares of Flywire during the fourth quarter worth approximately $32,000. KBC Group NV purchased a new position in shares of Flywire during the first quarter worth approximately $38,000. Finally, Leonteq Securities AG lifted its holdings in shares of Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock worth $41,000 after acquiring an additional 2,577 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Voss Capital, Lp sold 172,973 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $19.19, for a total value of $3,319,351.87. Following the sale, the insider directly owned 369,168 shares of the company's stock, valued at $7,084,333.92. This trade represents a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Massaro sold 50,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.26, for a total value of $763,000.00. Following the completion of the sale, the chief executive officer directly owned 2,678,051 shares in the company, valued at $40,867,058.26. The trade was a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 670,439 shares of company stock worth $12,304,006 over the last ninety days. 5.00% of the stock is owned by insiders.

Flywire Stock Performance

Shares of Flywire stock opened at $17.75 on Friday. Flywire Corporation has a 52-week low of $10.55 and a 52-week high of $19.73. The company's 50 day moving average price is $17.94 and its 200-day moving average price is $15.49. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 68.27, a P/E/G ratio of 1.14 and a beta of 1.30.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). The firm had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The company's quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. As a group, equities research analysts forecast that Flywire Corporation will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FLYW. Seaport Research Partners reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Flywire in a research note on Monday, August 17th. Weiss Ratings upgraded shares of Flywire from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, September 1st. JPMorgan Chase & Co. upgraded shares of Flywire from an "underweight" rating to a "neutral" rating and upped their price target for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. New Street Research set a $16.00 price target on shares of Flywire in a research report on Thursday, May 21st. Finally, BTIG Research reaffirmed a "buy" rating on shares of Flywire in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Flywire presently has a consensus rating of "Moderate Buy" and an average price target of $20.23.

Flywire Profile

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.

Want to see what other hedge funds are holding FLYW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flywire Corporation (NASDAQ:FLYW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.