First Eagle Investment Management LLC Has $3.63 Million Holdings in Flywire Corporation $FLYW

First Eagle Investment Management LLC lifted its stake in shares of Flywire Corporation (NASDAQ:FLYW) by 130.1% in the 3rd quarter, Holdings Channel reports. The fund owned 267,989 shares of the company’s stock after acquiring an additional 151,500 shares during the quarter. First Eagle Investment Management LLC’s holdings in Flywire were worth $3,629,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in Flywire by 194.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock worth $38,000 after purchasing an additional 2,167 shares in the last quarter. Covestor Ltd boosted its position in shares of Flywire by 217.9% during the third quarter. Covestor Ltd now owns 3,233 shares of the company’s stock worth $43,000 after buying an additional 2,216 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after buying an additional 2,497 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Flywire in the 3rd quarter valued at approximately $67,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Flywire in the 2nd quarter valued at approximately $119,000. 95.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on FLYW. Morgan Stanley upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $15.00 to $17.00 in a report on Monday. Wall Street Zen upgraded shares of Flywire from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Truist Financial cut their price target on shares of Flywire from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday. Wolfe Research restated an “outperform” rating and issued a $19.00 price objective on shares of Flywire in a report on Wednesday, November 5th. Finally, Citigroup dropped their target price 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 issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.58.

Flywire Stock Performance

Shares of FLYW stock opened at $12.85 on Thursday. Flywire Corporation has a 52-week low of $8.20 and a 52-week high of $15.25. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 128.51, a PEG ratio of 1.26 and a beta of 1.28. The firm’s 50-day moving average is $12.84 and its 200-day moving average is $13.25.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $105.56. The firm 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 business’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) earnings per share. Sell-side analysts predict that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Phillip John Riese sold 16,612 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total value of $250,508.96. Following the sale, the director owned 234,493 shares in the company, valued at approximately $3,536,154.44. This represents a 6.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Voss Capital, Lp purchased 181,121 shares of the business’s stock in a transaction on Tuesday, December 30th. The shares were acquired at an average cost of $14.15 per share, with a total value of $2,562,862.15. Following the acquisition, the insider directly owned 9,625,009 shares in the company, valued at approximately $136,193,877.35. The trade was a 1.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 251,112 shares of company stock valued at $3,477,834 and have sold 38,426 shares valued at $567,215. 4.40% of the stock is owned by insiders.

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.