Hsbc Holdings PLC Purchases Shares of 42,000 Flywire Corporation $FLYW

Hsbc Holdings PLC purchased a new stake in shares of Flywire Corporation (NASDAQ:FLYW) during the 4th quarter, HoldingsChannel reports. The fund purchased 42,000 shares of the company’s stock, valued at approximately $593,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Voss Capital LP lifted its holdings 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 valued at $166,380,000 after buying an additional 2,080,202 shares during the period. Wellington Management Group LLP grew its holdings in Flywire by 43.8% during the fourth quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock worth $68,367,000 after acquiring an additional 1,470,011 shares during the period. Jennison Associates LLC grew its holdings in Flywire by 35.2% during the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after acquiring an additional 1,150,802 shares during the period. Mangrove Partners IM LLC raised its position in Flywire by 2.8% in the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after acquiring an additional 82,383 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Flywire by 32.8% in the third quarter. Marshall Wace LLP now owns 1,851,327 shares of the company’s stock worth $25,067,000 after acquiring an additional 456,783 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

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

A number of equities research analysts have weighed in on FLYW shares. Morgan Stanley upped their price target on shares of Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Flywire from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. BTIG Research increased their target price on shares of Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Citigroup raised their target price on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Flywire from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.29.

Flywire Stock Performance

Flywire stock opened at $18.78 on Thursday. Flywire Corporation has a twelve month low of $10.10 and a twelve month high of $18.92. The firm has a market cap of $2.32 billion, a PE ratio of 81.65, a P/E/G ratio of 1.80 and a beta of 1.32. The firm’s 50 day moving average price is $16.38 and its two-hundred day moving average price is $14.05.

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

About Flywire

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.