Norwood Investment Partners, LP increased its stake in Flywire Corporation (FLYW +1.37%), according to November 12, 2025, filings.
What happened
Norwood Investment Partners, LP disclosed in a November 12, 2025, SEC filing that it increased its position in Flywire by 280,424 shares during the third quarter. The fund’s post-trade holding reached 860,500 shares, with a reported value of $11.65 million as of September 30, 2025. The newly purchased shares are estimated at ~$3.45 million based on quarterly average price.
What else to know
- Norwood added Flywire shares, bringing the position to 10.02% of 13F AUM, which makes it the fund’s 4th-largest holding
Top holdings after the filing:
- NYSE:APG: $19,124,843 (16.4% of AUM)
- NYSE:CWAN: $15,380,629 (13.2% of AUM)
- NYSE:GFL: $12,546,224 (10.8% of AUM)
- NASDAQ:FLYW: $11,651,170 (10.0% of AUM)
- NASDAQ:MGNI: $9,365,400 (8.1% of AUM)
- As of November 11, 2025, shares were priced at $13.73, down 40.74% over the past year, trailing the S&P 500 by 48.78 percentage points
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-11) | $13.73 |
| Market Capitalization | $1.67 billion |
| Revenue (TTM) | $583.03 million |
| Net Income (TTM) | $-2.44 million |
Company Snapshot
- Offers a global payment platform and vertical-specific software, supporting multiple currencies and payment types for sectors such as education, healthcare, travel, and B2B organizations.
- Serves educational institutions, healthcare providers, travel companies, and business clients seeking streamlined cross-border payment solutions.
- Operates in more than 30 countries, leveraging a proprietary network to facilitate international transactions for a diverse client base.
Flywire Corporation is a technology-driven payment enablement company with a global footprint, facilitating complex payment flows for clients across diverse industries. The company leverages its proprietary platform and direct integrations with alternative payment methods to offer seamless, multi-currency transactions. Flywire's sector-focused approach and robust network provide a competitive advantage in addressing the specialized needs of its core verticals.
Foolish take
Norwood Investment Partners bought Flywire shares a few months after the fintech stock lost more than half of its value in the first three months of the year, most of which was caused by a disappointing earnings report.
However, by the time Norwood bought the stock in the third quarter of 2025, its price-to-sales (P/S) ratio had fallen to just above 2.5. It also rose steadily throughout the quarter, indicating it may have chosen an opportune time to add shares in Flywire.
The stock has steadily fallen since peaking in 2021 at the height of the 2021 bull market. Hence, when it began buying shares in the third quarter of 2024, it likely thought it was getting a discount.
NASDAQ: FLYW
Key Data Points
Nonetheless, the further drop in the stock price in 2025 could be a buying opportunity. With revenue growth at 24% in the first nine months of 2025 and a return to profitability over the same timeframe, Norwood may be on the way to a recovery.
Glossary
Stake: The ownership interest or investment a fund or individual holds in a company.
13F reportable assets under management (AUM): The total market value of securities a fund must report quarterly to the SEC on Form 13F.
Net position change: The difference in the number or value of shares held by an investor after buying or selling.
Assets under management (AUM): The total market value of all investments managed by a fund or investment firm.
Holding: A security or asset currently owned by an investor or fund.
Post-trade: The status or value of an investment after a transaction has been completed.
Quarterly average price: The average price of a security over a specific three-month period.
Trailing: Describes performance measured over a past period, such as the last year.
Vertical-specific software: Software designed to meet the needs of a particular industry or sector.
B2B (Business-to-Business): Transactions or services conducted between businesses, rather than between a business and individual consumers.
Proprietary platform: A technology system owned and controlled by a company, not available for public use.
TTM: The 12-month period ending with the most recent quarterly report.
