BlueCrest Capital Management Ltd Buys New Position in Flywire Corporation $FLYW

BlueCrest Capital Management Ltd bought a new stake in Flywire Corporation (NASDAQ:FLYW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 100,000 shares of the company’s stock, valued at approximately $1,354,000.

A number of other large investors have also recently bought and sold shares of the company. Voss Capital LP raised its holdings in shares of Flywire by 176.0% in the second quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock valued at $94,770,000 after purchasing an additional 5,165,014 shares during the last quarter. Divisadero Street Capital Management LP lifted its position in shares of Flywire by 178.0% in the second quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock worth $55,980,000 after purchasing an additional 3,063,518 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Flywire by 173.3% during the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after purchasing an additional 2,129,514 shares during the last quarter. Mangrove Partners IM LLC acquired a new position in Flywire during the third quarter worth $39,289,000. Finally, Azora Capital LP bought a new position in Flywire in the second quarter valued at $33,355,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Buying and Selling

In other Flywire news, major shareholder Voss Capital, Lp purchased 181,121 shares of the stock in a transaction on Tuesday, December 30th. The shares were purchased at an average price of $14.15 per share, with a total value of $2,562,862.15. Following the completion of the transaction, the insider directly owned 9,625,009 shares in the company, valued at $136,193,877.35. This represents a 1.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Phillip John Riese sold 16,612 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total value of $250,508.96. Following the completion of the sale, the director owned 234,493 shares in the company, valued at $3,536,154.44. This represents a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders acquired 251,112 shares of company stock worth $3,477,834 and sold 39,315 shares worth $573,620. 4.40% of the stock is currently owned by corporate insiders.

Flywire Price Performance

Shares of FLYW stock opened at $12.63 on Wednesday. The stock has a market cap of $1.53 billion, a P/E ratio of 126.31, a P/E/G ratio of 1.08 and a beta of 1.28. The company has a fifty day moving average price of $12.60 and a two-hundred day moving average price of $13.26. Flywire Corporation has a one year low of $8.20 and a one year high of $15.25.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 24th. The company reported $105.55 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $105.56. The company had revenue of $157.54 million for the quarter, compared to analyst estimates of $144.96 million. Flywire had a net margin of 2.17% and a return on equity of 2.76%. Flywire’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. As a group, equities research analysts anticipate that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLYW has been the topic of several analyst reports. Morgan Stanley raised shares of Flywire from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $15.00 to $17.00 in a research report on Monday, March 2nd. The Goldman Sachs Group decreased their price objective on Flywire from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $17.00 to $19.00 in a research report on Friday, January 16th. Royal Bank Of Canada upped their target price on Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, Truist Financial decreased 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. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.58.

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.