Flywire Corporation $FLYW Shares Purchased by Voss Capital LP

Voss Capital LP grew its stake in shares of Flywire Corporation (NASDAQ:FLYW) by 21.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,750,000 shares of the company’s stock after acquiring an additional 2,080,202 shares during the period. Flywire accounts for 8.0% of Voss Capital LP’s holdings, making the stock its largest position. Voss Capital LP owned about 0.10% of Flywire worth $166,380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC lifted its position in 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. Wellington Management Group LLP lifted its position 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 acquiring an additional 2,129,514 shares during the last quarter. Mangrove Partners IM LLC acquired a new stake in shares of Flywire in the third quarter valued at approximately $39,289,000. Marshall Wace LLP raised its position in shares of Flywire by 32.8% in the third quarter. Marshall Wace LLP now owns 1,851,327 shares of the company’s stock valued at $25,067,000 after buying an additional 456,783 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of Flywire by 1.8% in the fourth quarter. Primecap Management Co. CA now owns 1,572,500 shares of the company’s stock valued at $22,267,000 after buying an additional 27,260 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Citigroup lifted their price target on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. BTIG Research lifted their price target on shares of Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.07.

Insider Activity

In other Flywire news, COO Rob Orgel sold 178,980 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the sale, the chief operating officer owned 959,061 shares of the company’s stock, valued at approximately $16,304,037. The trade was a 15.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Massaro sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $16.39, for a total transaction of $819,500.00. Following the sale, the chief executive officer directly owned 2,766,035 shares in the company, valued at approximately $45,335,313.65. The trade was a 1.78% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 295,670 shares of company stock valued at $4,950,820. 5.00% of the stock is currently owned by insiders.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $14.71 on Friday. The company’s 50 day simple moving average is $14.49 and its 200 day simple moving average is $13.56. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 63.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.34. Flywire Corporation has a 1 year low of $10.10 and a 1 year high of $18.05.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping 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 net margin of 4.45% and a return on equity of 3.78%. The company’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, analysts anticipate that Flywire Corporation will post 0.42 EPS for the current fiscal year.

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.