Ararat Capital Management LP Invests $10.49 Million in Flywire Corporation $FLYW

Ararat Capital Management LP acquired a new position in shares of Flywire Corporation (NASDAQ:FLYW) in the third quarter, Holdings Channel.com reports. The fund acquired 774,864 shares of the company’s stock, valued at approximately $10,492,000. Flywire comprises about 5.6% of Ararat Capital Management LP’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLYW. Creative Planning lifted its stake in Flywire by 43.3% during the third quarter. Creative Planning now owns 59,072 shares of the company’s stock worth $800,000 after purchasing an additional 17,863 shares during the last quarter. Cooper Creek Partners Management LLC bought a new position in shares of Flywire during the 3rd quarter valued at about $15,433,000. Harber Asset Management LLC bought a new position in shares of Flywire during the 3rd quarter valued at about $2,631,000. Two Sigma Investments LP raised its holdings in shares of Flywire by 334.1% during the 3rd quarter. Two Sigma Investments LP now owns 142,611 shares of the company’s stock valued at $1,931,000 after buying an additional 109,758 shares in the last quarter. Finally, Interval Partners LP raised its holdings in shares of Flywire by 7.6% during the 3rd quarter. Interval Partners LP now owns 231,557 shares of the company’s stock valued at $3,135,000 after buying an additional 16,337 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Flywire

In related news, Director Phillip John Riese sold 16,612 shares of Flywire stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total value of $250,508.96. Following the sale, the director owned 234,493 shares in the company, valued at $3,536,154.44. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $13.05, for a total transaction of $117,567.45. Following the sale, the general counsel directly owned 532,962 shares in the company, valued at $6,955,154.10. The trade was a 1.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have purchased 251,112 shares of company stock worth $3,477,834 and have sold 39,315 shares worth $573,620. 4.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FLYW has been the subject of a number of recent research reports. B. Riley Financial boosted their target price on Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Truist Financial reduced their price target on shares of Flywire from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Flywire in a report on Thursday, January 22nd. Citigroup cut their price objective on shares of Flywire from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Finally, Wall Street Zen raised shares of Flywire from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.58.

Flywire Stock Down 0.5%

Shares of NASDAQ FLYW opened at $12.43 on Friday. The firm’s fifty day moving average is $12.67 and its 200 day moving average is $13.27. Flywire Corporation has a 52 week low of $8.20 and a 52 week high of $15.25. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 124.31, a PEG ratio of 1.08 and a beta of 1.28.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $105.56. The company had revenue of $157.54 million during the quarter, compared to analyst estimates of $144.96 million. Flywire had a net margin of 2.17% and a return on equity of 2.76%. Flywire’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) earnings per share. Equities research analysts anticipate that Flywire Corporation will post 0.14 earnings per share 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.