AlphaQuest LLC Grows Stock Holdings in Flywire Corporation $FLYW

AlphaQuest LLC increased its stake in shares of Flywire Corporation (NASDAQ:FLYW) by 372.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 105,448 shares of the company’s stock after acquiring an additional 83,128 shares during the period. AlphaQuest LLC’s holdings in Flywire were worth $1,493,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in Flywire during the fourth quarter worth about $32,000. Covestor Ltd boosted its holdings in Flywire by 217.9% during the third quarter. Covestor Ltd now owns 3,233 shares of the company’s stock worth $43,000 after buying an additional 2,216 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after buying an additional 2,497 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Flywire during the second quarter worth about $119,000. Finally, Russell Investments Group Ltd. boosted its holdings in Flywire by 220.8% during the third quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company’s stock worth $138,000 after buying an additional 7,031 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Down 1.2%

Shares of FLYW opened at $15.81 on Thursday. The stock has a market cap of $1.95 billion, a P/E ratio of 68.74, a PEG ratio of 1.10 and a beta of 1.30. The company has a 50-day moving average of $13.79 and a two-hundred day moving average of $13.45. Flywire Corporation has a 12-month low of $9.97 and a 12-month high of $18.05.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FLYW. BTIG Research lifted their target price on shares of Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. Finally, Truist Financial lifted their target price on shares of Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.07.

Insider Activity

In other news, Director Phillip John Riese sold 37,921 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total value of $639,727.27. Following the completion of the transaction, the director owned 234,493 shares of the company’s stock, valued at $3,955,896.91. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mohit Kansal sold 16,101 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $15.90, for a total transaction of $256,005.90. Following the completion of the transaction, the insider directly owned 567,794 shares of the company’s stock, valued at approximately $9,027,924.60. This represents a 2.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 114,511 shares of company stock worth $1,859,470. Corporate insiders own 4.40% of the company’s stock.

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.