Invenomic Capital Management LP Has $9.11 Million Position in Flywire Co. (NASDAQ:FLYW)

Invenomic Capital Management LP cut its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 35.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 441,955 shares of the company’s stock after selling 238,713 shares during the period. Invenomic Capital Management LP owned about 0.36% of Flywire worth $9,113,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after purchasing an additional 781,711 shares during the last quarter. Jennison Associates LLC grew its position in shares of Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after buying an additional 1,179,562 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Flywire by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock valued at $58,335,000 after buying an additional 28,944 shares during the period. Wasatch Advisors LP raised its position in shares of Flywire by 62.1% during the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock worth $56,533,000 after acquiring an additional 1,049,888 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Flywire by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 1,966,179 shares of the company’s stock worth $40,543,000 after acquiring an additional 21,818 shares during the period. 95.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FLYW has been the subject of several analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $9.00 price target (down previously from $16.00) on shares of Flywire in a report on Monday, April 14th. Citigroup dropped their target price on shares of Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Morgan Stanley decreased their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada dropped their price objective on Flywire from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut Flywire from a “buy” rating to a “hold” rating and decreased their target price for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Flywire has an average rating of “Hold” and a consensus target price of $15.62.

Insider Activity

In other news, Director Gretchen Howard acquired 8,889 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the purchase, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This represents a 40.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the transaction, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

Flywire Price Performance

NASDAQ:FLYW opened at $10.89 on Friday. Flywire Co. has a one year low of $8.20 and a one year high of $23.40. The company has a market cap of $1.35 billion, a PE ratio of 72.60, a PEG ratio of 1.41 and a beta of 1.22. The firm has a 50-day moving average of $9.57 and a 200-day moving average of $16.12.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $128.70 million during the quarter, compared to analyst estimates of $124.18 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities research analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

About Flywire

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.