Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Flywire Corporation $FLYW

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Flywire Corporation (NASDAQ:FLYW) by 94.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 520,597 shares of the company’s stock after acquiring an additional 252,810 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Flywire were worth $6,091,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in Flywire by 194.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock valued at $38,000 after purchasing an additional 2,167 shares in the last quarter. CWM LLC increased its holdings in shares of Flywire by 850.9% in the 2nd quarter. CWM LLC now owns 6,447 shares of the company’s stock worth $75,000 after buying an additional 5,769 shares during the last quarter. JT Stratford LLC purchased a new stake in shares of Flywire during the 1st quarter valued at about $109,000. Dakota Wealth Management lifted its holdings in shares of Flywire by 8.7% in the 1st quarter. Dakota Wealth Management now owns 13,334 shares of the company’s stock valued at $127,000 after acquiring an additional 1,066 shares during the last quarter. Finally, AE Wealth Management LLC bought a new position in shares of Flywire in the 1st quarter valued at about $130,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Trading Up 0.8%

Shares of FLYW opened at $13.84 on Thursday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -691.65, a PEG ratio of 2.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.87. Flywire Corporation has a 1-year low of $8.20 and a 1-year high of $23.40. The company has a 50-day moving average of $13.32 and a 200 day moving average of $12.02.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $194.10 million for the quarter, compared to analyst estimates of $180.07 million. Flywire had a negative net margin of 0.42% and a positive return on equity of 0.80%. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. On average, research analysts expect that Flywire Corporation will post 0.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FLYW shares. Citigroup upgraded Flywire to a “hold” rating in a research report on Thursday, October 23rd. Truist Financial boosted their target price on Flywire from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, October 24th. The Goldman Sachs Group raised their price target on Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Stephens reaffirmed an “equal weight” rating and set a $13.00 price objective on shares of Flywire in a research note on Monday, September 22nd. Finally, UBS Group increased their target price on shares of Flywire from $13.50 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Flywire has a consensus rating of “Hold” and an average price target of $14.73.

Flywire Company Profile

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.