Invenomic Capital Management LP Sells 238,713 Shares of Flywire Co. (NASDAQ:FLYW)

Invenomic Capital Management LP decreased its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 35.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 441,955 shares of the company’s stock after selling 238,713 shares during the period. Invenomic Capital Management LP’s holdings in Flywire were worth $9,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FLYW. Global Retirement Partners LLC bought a new position in Flywire during the fourth quarter valued at approximately $30,000. Arcadia Investment Management Corp MI purchased a new stake in Flywire during the 4th quarter valued at $48,000. KBC Group NV grew its holdings in Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after acquiring an additional 1,911 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Flywire during the fourth quarter worth about $104,000. Finally, Highland Capital Management LLC purchased a new stake in Flywire in the 4th quarter worth approximately $221,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Down 2.1 %

NASDAQ:FLYW opened at $10.89 on Friday. The company’s 50 day moving average is $9.57 and its two-hundred day moving average is $16.12. Flywire Co. has a twelve month low of $8.20 and a twelve month high of $23.40. The company has a market cap of $1.35 billion, a PE ratio of 72.60, a P/E/G ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $128.70 million for the quarter, compared to analyst estimates of $124.18 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, analysts expect that Flywire Co. will post 0.14 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gretchen Howard purchased 8,889 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, the director now owns 30,770 shares of the company’s stock, valued at $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FLYW. Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $16.00 in a research note on Wednesday, February 26th. Stephens lowered Flywire from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Finally, Citigroup cut their price objective on shares of Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.62.

About Flywire

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.