Mangrove Partners IM LLC Invests $39.29 Million in Flywire Corporation $FLYW

Mangrove Partners IM LLC purchased a new stake in shares of Flywire Corporation (NASDAQ:FLYW) during the 3rd quarter, Holdings Channel reports. The fund purchased 2,901,693 shares of the company’s stock, valued at approximately $39,289,000. Flywire comprises 3.3% of Mangrove Partners IM LLC’s investment portfolio, making the stock its 10th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Voss Capital LP raised its holdings in 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 purchasing an additional 5,165,014 shares during the last quarter. Divisadero Street Capital Management LP boosted its stake in shares of Flywire by 178.0% in the 2nd 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. Wellington Management Group LLP grew its position in shares of Flywire by 173.3% during the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after buying an additional 2,129,514 shares during the period. Azora Capital LP bought a new stake in shares of Flywire during the second quarter worth approximately $33,355,000. Finally, Marshall Wace LLP raised its stake in shares of Flywire by 32.8% during the third quarter. Marshall Wace LLP now owns 1,851,327 shares of the company’s stock worth $25,067,000 after buying an additional 456,783 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Price Performance

Flywire stock opened at $12.43 on Friday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 124.31, a PEG ratio of 1.09 and a beta of 1.28. The company’s 50 day simple moving average is $12.67 and its 200 day simple moving average is $13.27. Flywire Corporation has a fifty-two week low of $8.20 and a fifty-two week high of $15.25.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, beating the consensus estimate 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 net margin of 2.17% and a return on equity of 2.76%. The business’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. As a group, analysts predict that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Insider Activity at Flywire

In other Flywire news, major shareholder Voss Capital, Lp acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were acquired at an average price of $10.99 per share, with a total value of $274,750.00. Following the purchase, the insider owned 2,300,000 shares of the company’s stock, valued at $25,277,000. This represents a 1.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $13.05, for a total value of $117,567.45. Following the transaction, the general counsel owned 532,962 shares in the company, valued at approximately $6,955,154.10. This represents a 1.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 251,112 shares of company stock worth $3,477,834 and sold 39,315 shares worth $573,620. 4.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley raised shares of Flywire from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $17.00 in a research note on Monday, March 2nd. Truist Financial dropped their target price on shares of Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. B. Riley Financial increased their price target on Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Royal Bank Of Canada raised their price target on Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $17.00 to $19.00 in a research note on Friday, January 16th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.58.

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.