Flywire Corporation $FLYW Shares Sold by Norwood Investment Partners LP

Norwood Investment Partners LP reduced its holdings in shares of Flywire Corporation (NASDAQ:FLYW) by 31.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 588,083 shares of the company’s stock after selling 272,417 shares during the period. Flywire makes up 9.4% of Norwood Investment Partners LP’s investment portfolio, making the stock its 4th largest holding. Norwood Investment Partners LP’s holdings in Flywire were worth $8,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FLYW. CIBC Private Wealth Group LLC purchased a new position in Flywire during the third quarter worth about $1,253,000. Jennison Associates LLC boosted its holdings 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 purchasing an additional 1,150,802 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in Flywire during the third quarter worth about $1,354,000. AlphaQuest LLC boosted its holdings in Flywire by 372.4% during the fourth quarter. AlphaQuest LLC now owns 105,448 shares of the company’s stock worth $1,493,000 after purchasing an additional 83,128 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Flywire by 103.3% during the fourth quarter. BNP Paribas Financial Markets now owns 1,023,958 shares of the company’s stock worth $14,499,000 after purchasing an additional 520,256 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Flywire news, insider Mohit Kansal sold 16,101 shares of Flywire stock in a transaction dated 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 owned 567,794 shares of the company’s stock, valued at approximately $9,027,924.60. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Phillip John Riese sold 5,000 shares of Flywire stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.43, for a total transaction of $77,150.00. Following the completion of the sale, the director directly owned 234,493 shares in the company, valued at approximately $3,618,226.99. This represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 295,670 shares of company stock valued at $4,950,820. Company insiders own 5.00% of the company’s stock.

Flywire Stock Performance

Shares of FLYW stock opened at $15.86 on Wednesday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 68.96, a P/E/G ratio of 1.05 and a beta of 1.34. Flywire Corporation has a 52 week low of $10.10 and a 52 week high of $18.05. The firm’s 50-day simple moving average is $14.64 and its two-hundred day simple moving average is $13.59.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company’s revenue for the quarter 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. Analysts forecast that Flywire Corporation will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. UBS Group boosted their price target on shares of Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Flywire from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Zacks Research upgraded shares of Flywire from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada boosted their price target on shares of Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.07.

About Flywire

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.