Invenomic Capital Management LP Acquires 341,411 Shares of Flywire Co. (NASDAQ:FLYW)

Invenomic Capital Management LP lifted its position in Flywire Co. (NASDAQ:FLYW) by 100.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 680,668 shares of the company’s stock after purchasing an additional 341,411 shares during the period. Invenomic Capital Management LP owned 0.54% of Flywire worth $11,156,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Flywire during the 2nd quarter worth about $26,000. Headlands Technologies LLC increased its position in Flywire by 82.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after acquiring an additional 1,509 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Flywire in the 2nd quarter worth approximately $64,000. Advisors Asset Management Inc. lifted its stake in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Flywire during the 3rd quarter worth $149,000. Institutional investors own 95.90% of the company’s stock.

Insider Buying and Selling at Flywire

In related news, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the sale, the chief operating officer now owns 473,648 shares in the company, valued at $8,198,846.88. This represents a 0.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David R. King sold 3,504 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $60,654.24. Following the completion of the transaction, the chief technology officer now directly owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,663 shares of company stock worth $149,957. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FLYW. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $18.00 in a report on Friday, October 11th. Citigroup reduced their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday. BTIG Research cut their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their price target on shares of Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flywire has an average rating of “Moderate Buy” and a consensus price target of $25.29.

Flywire Price Performance

Shares of FLYW stock opened at $23.11 on Tuesday. Flywire Co. has a one year low of $15.19 and a one year high of $31.54. The stock has a market cap of $2.88 billion, a P/E ratio of 154.27, a price-to-earnings-growth ratio of 4.38 and a beta of 1.08. The stock has a fifty day moving average price of $18.70 and a 200 day moving average price of $17.79.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.