Wellington Management Group LLP Grows Position in Flywire Corporation $FLYW

Wellington Management Group LLP grew its holdings in shares of Flywire Corporation (NASDAQ:FLYW) by 1.2% in the second quarter, HoldingsChannel.com reports. The fund owned 5,340,579 shares of the company’s stock after purchasing an additional 64,998 shares during the period. Wellington Management Group LLP’s holdings in Flywire were worth $93,834,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in shares of Flywire in the fourth quarter worth approximately $32,000. Essential Partners LLC lifted its position in Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after purchasing an additional 1,571 shares during the last quarter. KBC Group NV purchased a new position in Flywire in the 1st quarter worth approximately $38,000. Leonteq Securities AG grew its stake in Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after buying an additional 2,577 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after buying an additional 2,497 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Insiders Place Their Bets

In other Flywire news, insider Mohit Kansal sold 54,543 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.15, for a total value of $826,326.45. Following the completion of the sale, the insider owned 504,320 shares in the company, valued at approximately $7,640,448. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Voss Capital, Lp sold 172,973 shares of Flywire stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $19.19, for a total value of $3,319,351.87. Following the completion of the sale, the insider owned 369,168 shares in the company, valued at approximately $7,084,333.92. This represents a 31.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 664,471 shares of company stock worth $12,174,426 in the last quarter. 5.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FLYW. Weiss Ratings cut shares of Flywire from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Royal Bank Of Canada upped their target price on shares of Flywire from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and increased their target price for the company from $14.00 to $16.00 in a research note on Thursday, May 21st. Truist Financial raised their price target on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, August 14th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $22.00 price target on shares of Flywire in a research note on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.23.

Flywire Stock Down 3.8%

Shares of Flywire stock opened at $18.18 on Wednesday. The firm has a market cap of $2.21 billion, a PE ratio of 69.93, a price-to-earnings-growth ratio of 1.21 and a beta of 1.30. Flywire Corporation has a 12-month low of $10.55 and a 12-month high of $19.73. The company’s fifty day simple moving average is $17.85 and its two-hundred day simple moving average is $15.13.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period last year, the company posted ($0.10) earnings per share. As a group, sell-side analysts expect that Flywire Corporation will post 0.4 earnings per share for the current fiscal year.

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.