Flywire Corporation $FLYW Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in Flywire Corporation (NASDAQ:FLYW) by 110.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 887,200 shares of the company’s stock after buying an additional 466,300 shares during the period. Renaissance Technologies LLC owned 0.72% of Flywire worth $10,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Flywire by 173.3% in the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after purchasing an additional 2,129,514 shares during the last quarter. Voss Capital LP grew its stake in Flywire by 21.5% in the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after acquiring an additional 2,080,202 shares during the last quarter. Jennison Associates LLC increased 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 buying an additional 1,150,802 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in shares of Flywire during the third quarter worth about $15,433,000. Finally, Ameriprise Financial Inc. grew its position in shares of Flywire by 430.7% in the second quarter. Ameriprise Financial Inc. now owns 1,289,540 shares of the company’s stock valued at $15,088,000 after purchasing an additional 1,046,544 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $16.01 on Monday. The stock’s fifty day simple moving average is $16.50 and its 200 day simple moving average is $14.26. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 1.64 and a beta of 1.34. Flywire Corporation has a 52-week low of $10.10 and a 52-week high of $18.98.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 40.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) earnings per share. As a group, analysts anticipate that Flywire Corporation will post 0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLYW has been the subject of several research analyst reports. Zacks Research lowered Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Truist Financial reaffirmed a “hold” rating and issued a $17.00 target price (down from $18.00) on shares of Flywire in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a report on Wednesday, May 27th. Raymond James Financial reissued an “outperform” rating and issued a $22.00 price target on shares of Flywire in a report on Wednesday, May 27th. Finally, Citigroup boosted their price target on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

Insider Activity at Flywire

In other news, CEO Michael Massaro sold 50,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.26, for a total transaction of $763,000.00. Following the transaction, the chief executive officer directly owned 2,678,051 shares in the company, valued at $40,867,058.26. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Rob Orgel sold 178,980 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $17.00, for a total value of $3,042,660.00. Following the completion of the transaction, the chief operating officer directly owned 959,061 shares in the company, valued at approximately $16,304,037. The trade was a 15.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 410,391 shares of company stock worth $6,700,493. 5.00% of the stock is currently owned by company insiders.

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.