Flywire Corporation $FLYW Shares Acquired by North Reef Capital Management LP

North Reef Capital Management LP boosted its holdings in Flywire Corporation (NASDAQ:FLYW) by 83.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,100,000 shares of the company’s stock after purchasing an additional 499,999 shares during the quarter. North Reef Capital Management LP’s holdings in Flywire were worth $12,804,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in Flywire by 110.8% during the 1st quarter. Renaissance Technologies LLC now owns 887,200 shares of the company’s stock worth $10,327,000 after purchasing an additional 466,300 shares during the last quarter. State of Wyoming boosted its stake in shares of Flywire by 72.3% during the first quarter. State of Wyoming now owns 98,409 shares of the company’s stock worth $1,145,000 after buying an additional 41,292 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Flywire by 18.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock worth $21,962,000 after buying an additional 295,960 shares during the period. KBC Group NV purchased a new position in shares of Flywire during the first quarter worth about $38,000. Finally, Roubaix Capital LLC acquired a new position in Flywire in the 1st quarter valued at about $2,685,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Stock Down 1.5%

Shares of NASDAQ:FLYW opened at $15.89 on Friday. Flywire Corporation has a 52 week low of $10.10 and a 52 week high of $18.98. The company has a 50-day moving average price of $16.47 and a 200 day moving average price of $14.20. The company has a market cap of $1.96 billion, a P/E ratio of 69.09, a PEG ratio of 1.62 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. The company had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) EPS. Analysts expect that Flywire Corporation will post 0.28 EPS for the current year.

Insider Transactions at Flywire

In other Flywire news, Director Phillip John Riese sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.43, for a total value of $77,150.00. Following the completion of the sale, the director owned 234,493 shares of the company’s stock, valued at approximately $3,618,226.99. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 6,528 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.08, for a total value of $98,442.24. Following the completion of the sale, the general counsel directly owned 652,152 shares of the company’s stock, valued at approximately $9,834,452.16. This trade represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 410,391 shares of company stock valued at $6,700,493. 5.00% of the stock is owned by company insiders.

Analyst Ratings Changes

FLYW has been the subject of several analyst reports. Morgan Stanley upped their price objective on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $14.00 to $16.00 in a report on Thursday, May 21st. Wall Street Zen lowered Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. BTIG Research restated a “buy” rating and set a $20.00 price target on shares of Flywire in a research note on Tuesday, July 21st. Finally, UBS Group increased their price target on Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

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.