Capelight Capital Asset Management LP Makes New Investment in Flywire Corporation $FLYW

Capelight Capital Asset Management LP purchased a new position in shares of Flywire Corporation (NASDAQ:FLYW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,000 shares of the company’s stock, valued at approximately $850,000. Flywire comprises about 0.7% of Capelight Capital Asset Management LP’s portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GDS Wealth Management increased its stake in Flywire by 9.0% during the third quarter. GDS Wealth Management now owns 1,039,320 shares of the company’s stock worth $14,072,000 after acquiring an additional 85,411 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Flywire during the third quarter worth about $1,253,000. BlueCrest Capital Management Ltd acquired a new stake in Flywire during the third quarter worth about $1,354,000. Advisory Research Inc. acquired a new stake in Flywire during the third quarter worth about $1,575,000. Finally, Promus Capital LLC acquired a new stake in Flywire during the third quarter worth about $1,000,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FLYW. Truist Financial lowered their target price on Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Citigroup lowered their target price on Flywire from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. UBS Group lowered their target price on Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Stephens upgraded Flywire from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $17.00 to $19.00 in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Flywire in a research note on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Flywire presently has an average rating of “Hold” and an average price target of $16.18.

Insider Transactions at Flywire

In other Flywire news, major shareholder Voss Capital, Lp purchased 25,000 shares of Flywire stock in a transaction that occurred on Friday, February 13th. The stock was purchased at an average price of $10.99 per share, with a total value of $274,750.00. Following the completion of the acquisition, the insider owned 2,300,000 shares of the company’s stock, valued at approximately $25,277,000. This trade represents a 1.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter Butterfield sold 9,009 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $13.05, for a total value of $117,567.45. Following the completion of the transaction, the general counsel directly owned 532,962 shares of the company’s stock, valued at $6,955,154.10. This represents a 1.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.40% of the company’s stock.

Flywire Stock Performance

FLYW stock opened at $12.23 on Wednesday. Flywire Corporation has a 1 year low of $8.43 and a 1 year high of $15.25. The firm has a market cap of $1.48 billion, a P/E ratio of 122.31, a price-to-earnings-growth ratio of 1.01 and a beta of 1.26. The stock has a 50-day simple moving average of $11.90 and a 200-day simple moving average of $13.07.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $105.56. The firm had revenue of $157.54 million during the quarter, compared to the consensus estimate of $144.96 million. Flywire had a return on equity of 2.76% and a net margin of 2.17%.Flywire’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) earnings per share. On average, equities research analysts predict that Flywire Corporation will post 0.14 EPS for the current year.

Flywire Company Profile

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.