M&G PLC Acquires New Shares in Flywire Corporation $FLYW

M&G PLC bought a new position in shares of Flywire Corporation (NASDAQ:FLYW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,056,446 shares of the company’s stock, valued at approximately $12,677,000. M&G PLC owned about 0.87% of Flywire as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLYW. Voss Capital LP grew its holdings in shares of Flywire by 97.6% during the 1st quarter. Voss Capital LP now owns 2,934,986 shares of the company’s stock worth $27,882,000 after purchasing an additional 1,449,986 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Flywire during the first quarter valued at about $15,782,000. Invenomic Capital Management LP increased its position in shares of Flywire by 242.7% during the first quarter. Invenomic Capital Management LP now owns 1,514,615 shares of the company’s stock valued at $14,389,000 after acquiring an additional 1,072,660 shares during the last quarter. Millennium Management LLC raised its stake in shares of Flywire by 15.1% in the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company’s stock valued at $12,644,000 after acquiring an additional 175,007 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Flywire by 14.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company’s stock worth $11,792,000 after acquiring an additional 159,239 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Zacks Research cut Flywire from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Flywire in a report on Thursday, July 17th. They issued a “hold” rating and a $12.00 price objective for the company. Citigroup raised shares of Flywire to a “hold” rating in a research note on Thursday, October 23rd. Finally, Stephens reissued an “equal weight” rating and issued a $13.00 price target on shares of Flywire in a research report on Monday, September 22nd. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Flywire currently has an average rating of “Hold” and a consensus target price of $14.73.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $13.84 on Thursday. The stock’s 50-day simple moving average is $13.32 and its 200-day simple moving average is $12.02. The firm has a market capitalization of $1.69 billion, a PE ratio of -691.65, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29. Flywire Corporation has a fifty-two week low of $8.20 and a fifty-two week high of $23.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.87 and a current ratio of 1.53.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. Flywire had a negative net margin of 0.42% and a positive return on equity of 0.80%. The company had revenue of $194.10 million for the quarter, compared to analyst estimates of $180.07 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm’s revenue was up 27.6% on a year-over-year basis. As a group, equities research analysts forecast that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Flywire Company 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.