Calamos Advisors LLC Makes New $1.36 Million Investment in Flywire Corporation $FLYW

Calamos Advisors LLC bought a new stake in Flywire Corporation (NASDAQ:FLYW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 77,710 shares of the company’s stock, valued at approximately $1,360,000.

Several other hedge funds have also recently made changes to their positions in FLYW. Wellington Management Group LLP grew its stake in shares of Flywire by 1.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock worth $93,834,000 after acquiring an additional 64,998 shares during the period. Jennison Associates LLC raised its stake in 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 during the period. Wasatch Advisors LP bought a new stake in Flywire in the 2nd quarter valued at about $44,026,000. Dimensional Fund Advisors LP lifted its holdings in Flywire by 18.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock valued at $21,962,000 after purchasing an additional 295,960 shares during the last quarter. Finally, One Way Holdings LLC lifted its holdings in Flywire by 7.2% during the third quarter. One Way Holdings LLC now owns 1,131,863 shares of the company’s stock valued at $19,808,000 after purchasing an additional 76,310 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

Flywire Stock Performance

Shares of NASDAQ FLYW opened at $22.13 on Tuesday. Flywire Corporation has a fifty-two week low of $10.55 and a fifty-two week high of $22.18. The stock has a market cap of $2.69 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.32. The stock has a fifty day moving average of $18.52 and a 200-day moving average of $15.74.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.26. The business had revenue of $250.30 million for the quarter, compared to analysts’ expectations of $233.25 million. Flywire had a return on equity of 9.46% and a net margin of 10.34%. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, sell-side analysts predict that Flywire Corporation will post 0.40 EPS for the current year.

Wall Street Analyst Weigh In

FLYW has been the subject of a number of research reports. Citigroup increased their target price on shares of Flywire from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. Truist Financial boosted their price target on shares of Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, August 14th. BTIG Research upped their price target on shares of Flywire from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Morgan Stanley upped their price target on shares of Flywire from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $25.00 price objective (up from $24.00) on shares of Flywire in a report on Wednesday, November 4th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Flywire presently has an average rating of “Hold” and an average price target of $22.27.

Insider Buying and Selling at Flywire

In other news, major shareholder Voss Capital, Lp sold 172,973 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total value of $3,319,351.87. Following the sale, the insider directly owned 369,168 shares of the company’s stock, valued at approximately $7,084,333.92. This represents a 31.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David R. King sold 55,325 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $20.05, for a total transaction of $1,109,266.25. Following the completion of the sale, the insider directly owned 147,079 shares in the company, valued at approximately $2,948,933.95. The trade was a 27.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 653,996 shares of company stock valued at $12,466,115 in the last quarter. 5.00% of the stock is currently owned by corporate insiders.

About Flywire

Flywire Corporation is a global payments and software company that helps businesses and institutions manage domestic and cross-border payments. Its platform connects payment processing with organizations’ existing systems and supports multiple currencies and local payment methods.

The company serves customers in sectors including education, healthcare, travel and business-to-business services. Its offerings help organizations collect payments from customers and manage related payment workflows, including international transactions.

Flywire was founded in 2009 as peerTransfer, initially focusing on international payments for students.