Wasatch Advisors LP bought a new stake in Flywire Corporation (NASDAQ:FLYW - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,505,756 shares of the company's stock, valued at approximately $44,026,000. Wasatch Advisors LP owned about 2.03% of Flywire at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FLYW. Voss Capital LP lifted its position in Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company's stock valued at $166,380,000 after acquiring an additional 2,080,202 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Flywire by 19.9% during the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company's stock worth $61,679,000 after purchasing an additional 878,248 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Flywire by 43.8% during the fourth quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company's stock worth $68,367,000 after purchasing an additional 1,470,011 shares in the last quarter. Mangrove Partners IM LLC increased its position in shares of Flywire by 2.8% during the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company's stock worth $42,255,000 after purchasing an additional 82,383 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Flywire by 18.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company's stock valued at $21,962,000 after purchasing an additional 295,960 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.
Flywire Stock Performance
FLYW opened at $17.47 on Wednesday. The business's fifty day moving average is $16.74 and its two-hundred day moving average is $14.45. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 67.19, a PEG ratio of 1.78 and a beta of 1.34. Flywire Corporation has a one year low of $10.55 and a one year high of $18.98.
Flywire (NASDAQ:FLYW - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The firm had revenue of $163.80 million during the quarter, compared to analyst estimates of $156.47 million. During the same period last year, the company posted ($0.10) EPS. The firm's revenue for the quarter was up 27.2% on a year-over-year basis. On average, analysts predict that Flywire Corporation will post 0.28 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Mohit Kansal sold 3,650 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $16.96, for a total value of $61,904.00. Following the sale, the insider directly owned 500,670 shares of the company's stock, valued at approximately $8,491,363.20. This represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter Butterfield sold 6,528 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.08, for a total transaction of $98,442.24. Following the transaction, the general counsel owned 652,152 shares of the company's stock, valued at $9,834,452.16. This trade represents a 0.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 304,889 shares of company stock worth $4,958,590. 5.00% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on FLYW. UBS Group raised their price target on Flywire from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Flywire from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Raymond James Financial reiterated an "outperform" rating and issued a $22.00 price objective on shares of Flywire in a research note on Wednesday, May 27th. Zacks Research downgraded shares of Flywire from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. upgraded shares of Flywire from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Flywire presently has a consensus rating of "Hold" and a consensus target price of $19.38.
Read Our Latest Stock Report on Flywire
Flywire Profile
(
Free Report)
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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