Squarepoint Ops LLC Buys 316,410 Shares of Flywire Corporation $FLYW

Squarepoint Ops LLC lifted its stake in shares of Flywire Corporation (NASDAQ:FLYW) by 215.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,077 shares of the company’s stock after acquiring an additional 316,410 shares during the quarter. Squarepoint Ops LLC’s holdings in Flywire were worth $5,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in Flywire by 13.3% during the first quarter. Invesco Ltd. now owns 101,343 shares of the company’s stock worth $963,000 after buying an additional 11,892 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Flywire during the 1st quarter worth approximately $227,000. Fox Run Management L.L.C. acquired a new position in shares of Flywire during the 1st quarter valued at $153,000. American Century Companies Inc. boosted its stake in Flywire by 228.1% during the first quarter. American Century Companies Inc. now owns 100,499 shares of the company’s stock worth $955,000 after acquiring an additional 69,873 shares in the last quarter. Finally, Algert Global LLC boosted its stake in Flywire by 535.8% during the first quarter. Algert Global LLC now owns 168,302 shares of the company’s stock worth $1,599,000 after acquiring an additional 141,832 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLYW has been the topic of a number of research analyst reports. Wolfe Research reissued an “outperform” rating and set a $19.00 price objective on shares of Flywire in a research report on Wednesday, November 5th. UBS Group boosted their price objective on Flywire from $13.50 to $15.50 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Truist Financial lifted their price target on shares of Flywire from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flywire in a research note on Wednesday, October 8th. Finally, Citigroup upgraded Flywire to a “hold” rating in a research note on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Flywire currently has an average rating of “Hold” and an average target price of $14.81.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $14.77 on Monday. Flywire Corporation has a fifty-two week low of $8.20 and a fifty-two week high of $21.75. The company’s 50-day moving average is $13.51 and its 200 day moving average is $12.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $1.80 billion, a P/E ratio of -738.13, a price-to-earnings-growth ratio of 2.92 and a beta of 1.28.

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

Insiders Place Their Bets

In related news, General Counsel Peter Butterfield sold 8,120 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $13.69, for a total value of $111,162.80. Following the sale, the general counsel directly owned 382,310 shares in the company, valued at approximately $5,233,823.90. The trade was a 2.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.

Flywire Company Profile

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.