Flywire Corporation $FLYW Shares Sold by Rock Creek Group LP

Rock Creek Group LP reduced its stake in shares of Flywire Corporation (NASDAQ:FLYW) by 55.6% during the 4th quarter, HoldingsChannel reports. The firm owned 100,000 shares of the company’s stock after selling 125,000 shares during the quarter. Rock Creek Group LP’s holdings in Flywire were worth $1,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of Flywire during the 4th quarter worth approximately $32,000. Daiwa Securities Group Inc. boosted its holdings in shares of Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after purchasing an additional 2,497 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Flywire during the 2nd quarter worth approximately $119,000. Russell Investments Group Ltd. boosted its holdings in shares of Flywire by 220.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company’s stock worth $138,000 after purchasing an additional 7,031 shares during the last quarter. Finally, Allegheny Financial Group acquired a new position in shares of Flywire during the 3rd quarter worth approximately $147,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Stock Performance

FLYW opened at $16.04 on Friday. Flywire Corporation has a one year low of $9.97 and a one year high of $18.05. The stock has a market capitalization of $1.98 billion, a PE ratio of 69.74, a P/E/G ratio of 1.09 and a beta of 1.30. The business’s 50 day moving average price is $13.93 and its 200 day moving average price is $13.48.

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

Insiders Place Their Bets

In related news, General Counsel Peter Butterfield sold 9,009 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $13.05, for a total value of $117,567.45. Following the transaction, the general counsel directly owned 532,962 shares in the company, valued at approximately $6,955,154.10. This represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $16.39, for a total value of $819,500.00. Following the completion of the transaction, the chief executive officer owned 2,766,035 shares in the company, valued at $45,335,313.65. This represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 114,511 shares of company stock valued at $1,859,470. Insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

FLYW has been the topic of several recent research reports. The Goldman Sachs Group restated a “neutral” rating and set a $17.00 target price on shares of Flywire in a report on Wednesday, May 6th. Weiss Ratings upgraded Flywire from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Morgan Stanley boosted their target price on Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded Flywire to an “outperform” rating in a report on Wednesday. Finally, Truist Financial boosted their target price on Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.07.

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.