WINTON GROUP Ltd acquired a new position in Flywire Corporation (NASDAQ:FLYW – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 57,856 shares of the company’s stock, valued at approximately $819,000.
Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in shares of Flywire in the 4th quarter worth approximately $32,000. Daiwa Securities Group Inc. lifted its holdings in shares of Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after acquiring an additional 2,497 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Flywire in the 2nd quarter worth approximately $119,000. Russell Investments Group Ltd. raised its holdings in Flywire by 220.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company’s stock valued at $138,000 after buying an additional 7,031 shares during the last quarter. Finally, Allegheny Financial Group bought a new stake in Flywire during the 3rd quarter valued at $147,000. 95.90% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $17.00 price target on shares of Flywire in a report on Wednesday, May 6th. Truist Financial upped their price objective on shares of Flywire from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a report on Wednesday, May 27th. Royal Bank Of Canada increased their target price on shares of Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, Morgan Stanley increased their target price on shares of Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.07.
Flywire Trading Up 0.7%
Shares of NASDAQ FLYW opened at $14.23 on Thursday. Flywire Corporation has a 12 month low of $10.10 and a 12 month high of $18.05. The firm has a market capitalization of $1.76 billion, a PE ratio of 61.87, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. The firm has a fifty day simple moving average of $14.36 and a two-hundred day simple moving average of $13.54.
Flywire (NASDAQ:FLYW – Get Free Report) last issued 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 net margin of 4.45% and a return on equity of 3.78%. The business had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, sell-side analysts predict that Flywire Corporation will post 0.42 earnings per share for the current year.
Insiders Place Their Bets
In other Flywire news, CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $16.39, for a total value of $819,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,766,035 shares in the company, valued at approximately $45,335,313.65. This represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rob Orgel sold 178,980 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the completion of the transaction, the chief operating officer owned 959,061 shares of the company’s stock, valued at $16,304,037. This trade represents a 15.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 295,670 shares of company stock worth $4,950,820. Company insiders own 5.00% of the company’s stock.
Flywire Company 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.
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