Promus Capital LLC Acquires New Position in Flywire Corporation $FLYW

Promus Capital LLC bought a new position in Flywire Corporation (NASDAQ:FLYW) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 73,873 shares of the company’s stock, valued at approximately $1,000,000.

Several other institutional investors also recently bought and sold shares of FLYW. Voss Capital LP lifted its stake in shares of Flywire by 176.0% during the 2nd quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock worth $94,770,000 after purchasing an additional 5,165,014 shares during the period. Divisadero Street Capital Management LP increased its stake in Flywire by 178.0% in the second quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock valued at $55,980,000 after purchasing an additional 3,063,518 shares during the last quarter. Azora Capital LP acquired a new position in Flywire in the second quarter valued at $33,355,000. M&G PLC acquired a new stake in Flywire in the 2nd quarter worth about $12,677,000. Finally, Ameriprise Financial Inc. boosted its stake in Flywire by 430.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,289,540 shares of the company’s stock worth $15,088,000 after buying an additional 1,046,544 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $13.56 on Tuesday. Flywire Corporation has a 1-year low of $8.20 and a 1-year high of $15.25. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 135.61, a PEG ratio of 1.16 and a beta of 1.28. The business has a 50-day moving average of $12.78 and a 200-day moving average of $13.28.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, beating the consensus estimate of ($0.01) by $105.56. The business had revenue of $157.54 million for the quarter, compared to the consensus estimate of $144.96 million. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The company’s revenue was up 34.0% on a year-over-year basis. During the same period last year, the business posted ($0.12) EPS. Research analysts expect that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FLYW. Wall Street Zen upgraded shares of Flywire from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. UBS Group lowered their price objective on shares of Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Zacks Research upgraded Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Truist Financial dropped their price target on Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Citigroup cut their price objective on Flywire from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.58.

Insider Buying and Selling at Flywire

In other news, major shareholder Voss Capital, Lp acquired 25,000 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were bought at an average price of $10.99 per share, for a total transaction of $274,750.00. Following the completion of the purchase, the insider directly owned 2,300,000 shares of the company’s stock, valued at approximately $25,277,000. This trade represents a 1.10% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 9,009 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $13.05, for a total transaction of $117,567.45. Following the transaction, the general counsel directly owned 532,962 shares in the company, valued at approximately $6,955,154.10. The trade was a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 251,112 shares of company stock valued at $3,477,834 and sold 39,315 shares valued at $573,620. 4.40% of the stock is owned by corporate insiders.

About Flywire

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.