GDS Wealth Management Boosts Stock Position in Flywire Corporation $FLYW

GDS Wealth Management grew its holdings in shares of Flywire Corporation (NASDAQ:FLYW) by 9.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,039,320 shares of the company’s stock after buying an additional 85,411 shares during the period. GDS Wealth Management owned 0.85% of Flywire worth $14,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Voss Capital LP raised its position in shares of Flywire by 176.0% during the 2nd quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock worth $94,770,000 after acquiring an additional 5,165,014 shares in the last quarter. Divisadero Street Capital Management LP increased its stake in Flywire by 178.0% in the second quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock valued at $55,980,000 after purchasing an additional 3,063,518 shares during the last quarter. Azora Capital LP acquired a new stake in Flywire during the second quarter worth approximately $33,355,000. Marshall Wace LLP lifted its position in shares of Flywire by 10.8% during the 2nd quarter. Marshall Wace LLP now owns 1,394,544 shares of the company’s stock worth $16,316,000 after buying an additional 135,940 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Flywire by 15.1% in the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company’s stock valued at $12,644,000 after buying an additional 175,007 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 13,327 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total transaction of $200,038.27. Following the transaction, the general counsel owned 374,933 shares in the company, valued at approximately $5,627,744.33. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Voss Capital, Lp purchased 181,121 shares of Flywire stock in a transaction dated Tuesday, December 30th. The stock was acquired at an average cost of $14.15 per share, with a total value of $2,562,862.15. Following the completion of the acquisition, the insider directly owned 9,625,009 shares in the company, valued at approximately $136,193,877.35. This trade represents a 1.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 39,526 shares of company stock valued at $583,717 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Flywire Stock Down 0.1%

Flywire stock opened at $13.73 on Friday. The stock has a 50 day moving average of $14.06 and a two-hundred day moving average of $13.18. Flywire Corporation has a twelve month low of $8.20 and a twelve month high of $21.31. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -686.16, a PEG ratio of 1.55 and a beta of 1.28. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.02.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $194.10 million during the quarter, compared to analysts’ expectations of $180.07 million. Flywire had a positive return on equity of 0.80% and a negative net margin of 0.42%.The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. As a group, research analysts expect that Flywire Corporation will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of Flywire from $13.50 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Zacks Research raised Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Wolfe Research reissued an “outperform” rating and issued a $19.00 target price on shares of Flywire in a report on Wednesday, November 5th. Truist Financial set a $17.00 price target on Flywire in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price target on Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Flywire currently has a consensus rating of “Hold” and a consensus price target of $15.73.

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.