32,220 Shares in Flywire Co. (NASDAQ:FLYW) Purchased by Dark Forest Capital Management LP

Dark Forest Capital Management LP acquired a new position in shares of Flywire Co. (NASDAQ:FLYW) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 32,220 shares of the company’s stock, valued at approximately $528,000.

Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its position in Flywire by 3.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock worth $493,000 after acquiring an additional 702 shares during the last quarter. Assetmark Inc. lifted its stake in Flywire by 16.9% in the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after purchasing an additional 733 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Flywire by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock worth $499,000 after purchasing an additional 908 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after purchasing an additional 954 shares in the last quarter. Finally, Ascent Group LLC increased its holdings in shares of Flywire by 10.1% in the first quarter. Ascent Group LLC now owns 14,165 shares of the company’s stock valued at $351,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FLYW shares. JPMorgan Chase & Co. boosted their price objective on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. BTIG Research cut their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup reduced their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.92.

Insider Buying and Selling

In related news, COO Rob Orgel sold 3,824 shares of Flywire stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $66,193.44. Following the completion of the transaction, the chief operating officer now owns 473,648 shares in the company, valued at $8,198,846.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Massaro sold 8,629 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $155,667.16. Following the transaction, the chief executive officer now owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Rob Orgel sold 3,824 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $66,193.44. Following the sale, the chief operating officer now directly owns 473,648 shares in the company, valued at approximately $8,198,846.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,966 shares of company stock worth $480,143. Company insiders own 3.90% of the company’s stock.

Flywire Price Performance

Shares of Flywire stock opened at $16.47 on Friday. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -149.71, a price-to-earnings-growth ratio of 5.42 and a beta of 0.98. The business has a 50-day moving average of $17.62 and a 200 day moving average of $18.83. Flywire Co. has a 12 month low of $15.19 and a 12 month high of $32.84.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. Equities research analysts anticipate that Flywire Co. will post 0.06 earnings per share for the current year.

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.