First Eagle Investment Management LLC Grows Stake in Flywire Corporation $FLYW

First Eagle Investment Management LLC boosted its holdings in Flywire Corporation (NASDAQ:FLYW) by 60.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 430,337 shares of the company’s stock after purchasing an additional 162,348 shares during the quarter. First Eagle Investment Management LLC’s holdings in Flywire were worth $6,094,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allegheny Financial Group raised its position in shares of Flywire by 35.7% during the fourth quarter. Allegheny Financial Group now owns 14,767 shares of the company’s stock valued at $209,000 after buying an additional 3,887 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Flywire by 35.2% during the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after acquiring an additional 1,150,802 shares during the last quarter. Keybank National Association OH grew its stake in Flywire by 16.5% during the fourth quarter. Keybank National Association OH now owns 26,010 shares of the company’s stock valued at $368,000 after acquiring an additional 3,687 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in Flywire in the 4th quarter valued at $183,000. Finally, UBS Group AG increased its holdings in Flywire by 44.8% in the 4th quarter. UBS Group AG now owns 1,290,213 shares of the company’s stock valued at $18,269,000 after acquiring an additional 399,037 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Trading Down 5.0%

Flywire stock opened at $15.83 on Thursday. Flywire Corporation has a 12-month low of $9.97 and a 12-month high of $18.05. The firm has a 50-day moving average price of $13.16 and a 200-day moving average price of $13.27. The firm has a market capitalization of $1.92 billion, a PE ratio of 68.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The firm had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts predict that Flywire Corporation will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on FLYW shares. The Goldman Sachs Group reissued a “neutral” rating and set a $17.00 price objective on shares of Flywire in a report on Wednesday, May 6th. BTIG Research boosted their target price on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. UBS Group increased their price target on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada raised their price target on Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Truist Financial reduced their price objective on Flywire from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.17.

Insider Buying and Selling at Flywire

In related news, Director Phillip John Riese sold 37,921 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total value of $639,727.27. Following the completion of the transaction, the director owned 234,493 shares of the company’s stock, valued at $3,955,896.91. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mohit Kansal sold 16,101 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $15.90, for a total value of $256,005.90. Following the sale, the insider directly owned 567,794 shares in the company, valued at $9,027,924.60. This trade represents a 2.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 114,511 shares of company stock worth $1,859,470 over the last quarter. Insiders own 4.40% of the company’s stock.

Flywire 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.