M&G PLC Acquires Shares of 1,056,446 Flywire Corporation $FLYW

M&G PLC purchased a new position in shares of Flywire Corporation (NASDAQ:FLYW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,056,446 shares of the company’s stock, valued at approximately $12,677,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Flywire by 194.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock valued at $38,000 after purchasing an additional 2,167 shares during the period. CWM LLC increased its stake in Flywire by 850.9% in the 2nd quarter. CWM LLC now owns 6,447 shares of the company’s stock valued at $75,000 after buying an additional 5,769 shares during the period. JT Stratford LLC purchased a new position in Flywire during the 1st quarter worth $109,000. Dakota Wealth Management lifted its stake in shares of Flywire by 8.7% in the 1st quarter. Dakota Wealth Management now owns 13,334 shares of the company’s stock worth $127,000 after acquiring an additional 1,066 shares during the period. Finally, AE Wealth Management LLC acquired a new stake in shares of Flywire in the 1st quarter worth $130,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FLYW has been the subject of several analyst reports. Zacks Research cut shares of Flywire from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Citigroup raised Flywire to a “hold” rating in a research note on Thursday, October 23rd. Wolfe Research reiterated an “outperform” rating and issued a $19.00 price objective on shares of Flywire in a research report on Wednesday, November 5th. Stephens reissued an “equal weight” rating and set a $13.00 price objective on shares of Flywire in a report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flywire in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.73.

Flywire Stock Performance

NASDAQ FLYW opened at $13.84 on Thursday. The company has a quick ratio of 1.87, a current ratio of 1.53 and a debt-to-equity ratio of 0.02. Flywire Corporation has a fifty-two week low of $8.20 and a fifty-two week high of $23.40. The business has a fifty day moving average of $13.32 and a 200-day moving average of $12.02. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -691.65, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 negative net margin of 0.42% and a positive return on equity of 0.80%. The company’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. As a group, analysts predict that Flywire Corporation will post 0.14 earnings per share for the current fiscal year.

Flywire 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.