Roubaix Capital LLC Makes New Investment in Flywire Corporation $FLYW

Roubaix Capital LLC acquired a new stake in shares of Flywire Corporation (NASDAQ:FLYW) in the first quarter, Holdings Channel reports. The fund acquired 230,691 shares of the company’s stock, valued at approximately $2,685,000.

A number of other hedge funds also recently bought and sold shares of the company. Voss Capital LP increased its position in shares of Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after acquiring an additional 2,080,202 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Flywire by 19.9% in the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after acquiring an additional 878,248 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Flywire by 43.8% in the 4th quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock valued at $68,367,000 after acquiring an additional 1,470,011 shares in the last quarter. Mangrove Partners IM LLC lifted its position in shares of Flywire by 2.8% in the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock valued at $42,255,000 after acquiring an additional 82,383 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Flywire by 32.8% in the 3rd quarter. Marshall Wace LLP now owns 1,851,327 shares of the company’s stock worth $25,067,000 after purchasing an additional 456,783 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Flywire news, General Counsel Peter Butterfield sold 6,528 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.08, for a total value of $98,442.24. Following the transaction, the general counsel directly owned 652,152 shares of the company’s stock, valued at $9,834,452.16. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mohit Kansal sold 3,650 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $16.96, for a total value of $61,904.00. Following the sale, the insider directly owned 500,670 shares of the company’s stock, valued at $8,491,363.20. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 410,391 shares of company stock valued at $6,700,493. 5.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. New Street Research set a $16.00 price objective on shares of Flywire in a research report on Thursday, May 21st. JPMorgan Chase & Co. upgraded Flywire from an “underweight” rating to a “neutral” rating and increased their target price for the company from $14.00 to $16.00 in a report on Thursday, May 21st. Truist Financial lifted their price target on Flywire from $16.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Morgan Stanley upped their price target on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered Flywire from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Flywire has an average rating of “Moderate Buy” and a consensus price target of $18.77.

Flywire Stock Down 3.0%

FLYW stock opened at $18.13 on Friday. The company has a 50 day moving average of $16.42 and a two-hundred day moving average of $14.11. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 78.83, a PEG ratio of 1.85 and a beta of 1.32. Flywire Corporation has a 12-month low of $10.10 and a 12-month high of $18.98.

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