BNP Paribas Financial Markets Boosts Stock Position in Flywire Corporation $FLYW

BNP Paribas Financial Markets boosted its position in Flywire Corporation (NASDAQ:FLYW) by 103.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,023,958 shares of the company’s stock after purchasing an additional 520,256 shares during the quarter. BNP Paribas Financial Markets’ holdings in Flywire were worth $14,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mangrove Partners IM LLC acquired a new position in shares of Flywire in the third quarter valued at approximately $39,289,000. Wellington Management Group LLP lifted its stake in shares of Flywire by 173.3% during the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after purchasing an additional 2,129,514 shares during the period. Jennison Associates LLC boosted its holdings in shares of 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 purchasing an additional 1,150,802 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of Flywire during the third quarter worth $15,433,000. Finally, Ameriprise Financial Inc. grew its position in shares of Flywire by 430.7% in the second quarter. Ameriprise Financial Inc. now owns 1,289,540 shares of the company’s stock valued at $15,088,000 after purchasing an additional 1,046,544 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FLYW. Deutsche Bank Aktiengesellschaft upgraded Flywire to an “outperform” rating in a research note on Wednesday, May 27th. BTIG Research lifted their price target on Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 price objective on shares of Flywire in a research note 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. Finally, JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

Insider Activity at Flywire

In other Flywire news, COO Rob Orgel sold 178,980 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the completion of the sale, the chief operating officer directly owned 959,061 shares in the company, valued at $16,304,037. The trade was a 15.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Massaro sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $16.39, for a total transaction of $819,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,766,035 shares in the company, valued at approximately $45,335,313.65. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 289,482 shares of company stock valued at $4,861,713 over the last quarter. Company insiders own 5.00% of the company’s stock.

Flywire Price Performance

Flywire stock opened at $14.40 on Monday. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 62.61, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34. Flywire Corporation has a 12 month low of $10.09 and a 12 month high of $18.05. The stock’s 50-day moving average is $14.22 and its 200-day moving average is $13.52.

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