Squarepoint Ops LLC Increases Stock Holdings in Flywire Corporation $FLYW

Squarepoint Ops LLC boosted its stake in Flywire Corporation (NASDAQ:FLYW) by 158.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 539,307 shares of the company’s stock after acquiring an additional 330,622 shares during the period. Squarepoint Ops LLC’s holdings in Flywire were worth $9,476,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Voss Capital LP raised its holdings in Flywire by 21.5% in the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after purchasing an additional 2,080,202 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock valued at $93,834,000 after buying an additional 64,998 shares during the period. Jennison Associates LLC increased its position in shares of Flywire by 19.9% during the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after buying an additional 878,248 shares during the period. Mangrove Partners IM LLC raised its stake 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 buying an additional 82,383 shares in the last quarter. Finally, Wasatch Advisors LP bought a new position in Flywire in the second quarter worth about $44,026,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup restated a “neutral” rating on shares of Flywire in a report on Thursday, August 6th. Raymond James Financial reissued an “outperform” rating and issued a $22.00 target price on shares of Flywire in a research report on Wednesday, May 27th. B. Riley Financial raised their target price on Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research note on Wednesday, May 27th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.23.

Insider Buying and Selling

In other news, General Counsel Peter Butterfield sold 12,156 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total value of $218,686.44. Following the sale, the general counsel directly owned 601,022 shares of the company’s stock, valued at approximately $10,812,385.78. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp sold 172,973 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 369,168 shares of the company’s stock, valued at $7,084,333.92. The trade was a 31.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 670,439 shares of company stock worth $12,304,006 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Flywire Price Performance

NASDAQ:FLYW opened at $17.75 on Friday. The firm has a market capitalization of $2.16 billion, a P/E ratio of 68.27, a PEG ratio of 1.14 and a beta of 1.30. Flywire Corporation has a one year low of $10.55 and a one year high of $19.73. The company’s 50-day simple moving average is $17.94 and its 200 day simple moving average is $15.49.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. During the same period in the prior year, the business posted ($0.10) EPS. Flywire’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities research analysts expect that Flywire Corporation will post 0.4 earnings per share for the current fiscal year.

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.