2,901,693 Shares in Flywire Corporation $FLYW Bought by Mangrove Partners IM LLC

Mangrove Partners IM LLC bought a new stake in Flywire Corporation (NASDAQ:FLYW) during the third quarter, according to its most recent filing with the SEC. The firm bought 2,901,693 shares of the company’s stock, valued at approximately $39,289,000. Flywire comprises 3.3% of Mangrove Partners IM LLC’s holdings, making the stock its 10th biggest holding. Mangrove Partners IM LLC owned approximately 2.37% of Flywire at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FLYW. Voss Capital LP increased its stake in 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 acquiring an additional 5,165,014 shares during the period. Divisadero Street Capital Management LP lifted its stake in Flywire by 178.0% during 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 during the period. Wellington Management Group LLP lifted its stake 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 period. Azora Capital LP acquired a new stake in Flywire during the second quarter valued at approximately $33,355,000. Finally, Marshall Wace LLP boosted its holdings in Flywire by 32.8% during the third quarter. Marshall Wace LLP now owns 1,851,327 shares of the company’s stock valued at $25,067,000 after purchasing an additional 456,783 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLYW has been the subject of a number of recent research reports. B. Riley Financial increased their target price on Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Stephens upgraded Flywire from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $17.00 to $19.00 in a research report on Friday, January 16th. UBS Group cut their price objective on Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. The Goldman Sachs Group reduced their target price on shares of Flywire from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Finally, Morgan Stanley raised shares of Flywire from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $15.00 to $17.00 in a report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.58.

Flywire Price Performance

FLYW stock opened at $12.43 on Friday. The business has a fifty day moving average price of $12.67 and a 200 day moving average price of $13.27. Flywire Corporation has a fifty-two week low of $8.20 and a fifty-two week high of $15.25. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 124.31, a P/E/G ratio of 1.09 and a beta of 1.28.

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

Insiders Place Their Bets

In other news, 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 transaction of $250,508.96. Following the transaction, the director directly owned 234,493 shares in the company, valued at approximately $3,536,154.44. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter Butterfield sold 9,009 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $13.05, for a total transaction of $117,567.45. Following the sale, the general counsel directly owned 532,962 shares in the company, valued at $6,955,154.10. This trade represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 251,112 shares of company stock valued at $3,477,834 and have sold 39,315 shares valued at $573,620. Insiders own 4.40% of the company’s stock.

Flywire Company 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.