Norwood Investment Partners LP Has $8.33 Million Stock Position in Flywire Corporation $FLYW

Norwood Investment Partners LP lessened its position in shares of Flywire Corporation (NASDAQ:FLYW) by 31.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 588,083 shares of the company’s stock after selling 272,417 shares during the period. Flywire accounts for 9.4% of Norwood Investment Partners LP’s holdings, making the stock its 4th biggest holding. Norwood Investment Partners LP owned about 0.48% of Flywire worth $8,327,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Flywire during the fourth quarter worth $32,000. Daiwa Securities Group Inc. raised its stake in Flywire by 78.4% during the second 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. Arrowstreet Capital Limited Partnership bought a new position in Flywire during the second quarter worth $119,000. Russell Investments Group Ltd. raised its stake in Flywire by 220.8% during the third quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company’s stock worth $138,000 after buying an additional 7,031 shares during the last quarter. Finally, Glenmede Investment Management LP bought a new position in Flywire during the third quarter worth $164,000. Institutional investors own 95.90% of the company’s stock.

Analysts Set New Price Targets

FLYW has been the subject of a number of analyst reports. Citigroup lifted their target price on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a report on Wednesday, May 27th. Royal Bank Of Canada raised their price target on shares of Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Raymond James Financial restated an “outperform” rating and issued a $22.00 price target on shares of Flywire in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.07.

Insider Activity

In other news, insider Mohit Kansal sold 16,101 shares of Flywire stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $15.90, for a total transaction of $256,005.90. Following the completion of the transaction, the insider directly owned 567,794 shares in the company, valued at $9,027,924.60. This trade represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip John Riese sold 37,921 shares of Flywire stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total transaction of $639,727.27. Following the transaction, the director owned 234,493 shares of the company’s stock, valued at $3,955,896.91. This represents a 13.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 295,670 shares of company stock valued at $4,950,820. 5.00% of the stock is currently owned by insiders.

Flywire Trading Up 3.6%

NASDAQ:FLYW opened at $15.86 on Wednesday. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 68.96, a PEG ratio of 1.05 and a beta of 1.34. The firm has a fifty day simple moving average of $14.64 and a two-hundred day simple moving average of $13.59. Flywire Corporation has a 12 month low of $10.10 and a 12 month high of $18.05.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The business’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period last year, the company posted ($0.03) earnings per share. Equities analysts predict that Flywire Corporation will post 0.42 earnings per share for the current fiscal year.

Flywire 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.