Mangrove Partners IM LLC Has $42.26 Million Stock Holdings in Flywire Corporation $FLYW

Mangrove Partners IM LLC increased its position in shares of Flywire Corporation (NASDAQ:FLYW) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,984,076 shares of the company’s stock after acquiring an additional 82,383 shares during the quarter. Flywire comprises 3.4% of Mangrove Partners IM LLC’s holdings, making the stock its 8th biggest position. Mangrove Partners IM LLC’s holdings in Flywire were worth $42,255,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in shares of Flywire during the 4th quarter worth approximately $32,000. Daiwa Securities Group Inc. increased its stake in Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Flywire during the 2nd quarter valued at approximately $119,000. Russell Investments Group Ltd. increased its stake in Flywire by 220.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company’s stock valued at $138,000 after purchasing an additional 7,031 shares in the last quarter. Finally, Glenmede Investment Management LP acquired a new position in Flywire during the 3rd quarter valued at approximately $164,000. Institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on FLYW shares. Raymond James Financial restated an “outperform” rating and set a $22.00 price target on shares of Flywire in a research note on Wednesday, May 27th. UBS Group upped their price target on shares of Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and upped their price target for the company from $14.00 to $16.00 in a research note on Thursday, May 21st. BTIG Research upped their price target on shares of Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Flywire from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.07.

Flywire Price Performance

FLYW stock opened at $15.86 on Wednesday. The firm’s fifty day simple moving average is $14.64 and its 200-day simple moving average is $13.59. The company has a market capitalization of $1.96 billion, a P/E ratio of 68.96, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. Flywire Corporation has a 12 month low of $10.10 and a 12 month high of $18.05.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. The business had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. As a group, sell-side analysts forecast that Flywire Corporation will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Mohit Kansal sold 16,101 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $15.90, for a total value of $256,005.90. Following the sale, the insider directly owned 567,794 shares of the company’s stock, valued at $9,027,924.60. This represents a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Rob Orgel sold 178,980 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the completion of the sale, the chief operating officer directly owned 959,061 shares in the company, valued at $16,304,037. This trade represents a 15.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 295,670 shares of company stock worth $4,950,820. Company insiders own 5.00% of the company’s stock.

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.