Flywire Corporation (NASDAQ:FLYW) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of Flywire Corporation (NASDAQ:FLYW) by 23,876.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,076 shares of the company’s stock after purchasing an additional 4,059 shares during the quarter. GAMMA Investing LLC’s holdings in Flywire were worth $429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Flywire during the 4th quarter valued at about $30,000. Arcadia Investment Management Corp MI purchased a new position in Flywire during the 4th quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Flywire during the 4th quarter valued at about $77,000. Venturi Wealth Management LLC purchased a new position in shares of Flywire in the 4th quarter valued at about $104,000. Finally, Cetera Investment Advisers purchased a new position in shares of Flywire in the 4th quarter valued at about $225,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Flywire news, Director Edwin J. Santos sold 5,000 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $10.50, for a total transaction of $52,500.00. Following the transaction, the director now directly owns 16,990 shares of the company’s stock, valued at approximately $178,395. This trade represents a 22.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by insiders.

Flywire Trading Up 1.3%

FLYW opened at $10.93 on Friday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 273.25, a price-to-earnings-growth ratio of 1.52 and a beta of 1.27. Flywire Corporation has a 52 week low of $8.20 and a 52 week high of $23.40. The business’s 50 day moving average is $10.21 and its two-hundred day moving average is $14.20. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $128.70 million for the quarter, compared to analysts’ expectations of $124.18 million. Flywire had a net margin of 0.97% and a return on equity of 1.57%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. On average, research analysts predict that Flywire Corporation will post 0.14 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Flywire from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Stephens cut Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Citigroup decreased their price objective on Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft cut Flywire from a “buy” rating to a “hold” rating and decreased their target price for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Flywire currently has a consensus rating of “Hold” and an average price target of $15.15.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.