Wellington Management Group LLP Acquires 64,998 Shares of Flywire Corporation $FLYW

Wellington Management Group LLP boosted its holdings in Flywire Corporation (NASDAQ:FLYW) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 owned about 4.39% of Flywire worth $93,834,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FLYW. Wasatch Advisors LP bought a new stake in shares of Flywire during the 2nd quarter worth $44,026,000. Voss Capital LP grew its position in Flywire by 21.5% during the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after buying an additional 2,080,202 shares during the period. Cooper Creek Partners Management LLC bought a new position in Flywire during the third quarter valued at about $15,433,000. Ameriprise Financial Inc. increased its holdings in Flywire by 430.7% during the second quarter. Ameriprise Financial Inc. now owns 1,289,540 shares of the company’s stock worth $15,088,000 after buying an additional 1,046,544 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Flywire by 19.9% in the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock worth $61,679,000 after acquiring an additional 878,248 shares during the period. Institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on FLYW shares. Raymond James Financial reiterated an “outperform” rating and issued a $22.00 target price on shares of Flywire in a research note on Wednesday, May 27th. Zacks Research lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Wall Street Zen downgraded Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Royal Bank Of Canada increased their price objective on Flywire from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Monday. Finally, Seaport Research Partners reissued a “buy” rating and issued a $22.00 target price on shares of Flywire in a research report on Monday, August 17th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.23.

Insider Activity

In related news, CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 6,528 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.08, for a total transaction of $98,442.24. Following the completion of the sale, the general counsel owned 652,152 shares in the company, valued at $9,834,452.16. This represents a 0.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 664,471 shares of company stock worth $12,174,426 in the last three months. Insiders own 5.00% of the company’s stock.

Flywire Stock Down 3.8%

Shares of NASDAQ FLYW opened at $18.18 on Wednesday. Flywire Corporation has a 52 week low of $10.55 and a 52 week high of $19.73. The business has a 50-day simple moving average of $17.85 and a two-hundred day simple moving average of $15.13. The company has a market cap of $2.21 billion, a P/E ratio of 69.93, a P/E/G ratio of 1.21 and a beta of 1.30.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The company had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $156.47 million. During the same period in the previous year, the firm earned ($0.10) EPS. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. Equities research analysts anticipate that Flywire Corporation will post 0.4 EPS for the current year.

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.