Handelsbanken Fonder AB Buys 4,200 Shares of Flywire Co. (NASDAQ:FLYW) (2024)

Posted by Defense World Staff on May 3rd, 2024

Handelsbanken Fonder AB grew its stake in Flywire Co. (NASDAQ:FLYW – Free Report) by 36.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,700 shares of the company’s stock after acquiring an additional 4,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Flywire were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FLYW. RiverPark Advisors LLC acquired a new stake in shares of Flywire in the 3rd quarter valued at approximately $83,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Flywire in the 3rd quarter valued at about $224,000. Handelsinvest Investeringsforvaltning bought a new stake in shares of Flywire in the 4th quarter valued at about $176,000. OneAscent Financial Services LLC acquired a new stake in Flywire in the 4th quarter valued at about $212,000. Finally, Olympiad Research LP bought a new position in Flywire during the third quarter worth about $317,000. 95.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Flywire news, COO Rob Orgel sold 17,150 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $468,195.00. Following the completion of the sale, the chief operating officer now directly owns 468,285 shares in the company, valued at $12,784,180.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO David R. King sold 9,366 shares of Flywire stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the sale, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rob Orgel sold 17,150 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $468,195.00. Following the completion of the transaction, the chief operating officer now directly owns 468,285 shares of the company’s stock, valued at approximately $12,784,180.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,800 shares of company stock worth $3,743,582. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FLYW. Morgan Stanley cut Flywire from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $27.00 to $30.00 in a research report on Friday, March 1st. Citigroup reduced their price objective on shares of Flywire from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. UBS Group raised their target price on shares of Flywire from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Oppenheimer started coverage on shares of Flywire in a research note on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of Flywire from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.27.

Check Out Our Latest Research Report on Flywire

Flywire Price Performance

Shares of NASDAQ FLYW opened at $20.25 on Friday. The stock has a market capitalization of $2.49 billion, a PE ratio of -224.98, a P/E/G ratio of 7.71 and a beta of 1.09. Flywire Co. has a fifty-two week low of $18.65 and a fifty-two week high of $35.80. The business has a fifty day moving average price of $23.88 and a two-hundred day moving average price of $23.45.

Flywire (NASDAQ:FLYW – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. The business had revenue of $100.55 million during the quarter, compared to analysts’ expectations of $88.52 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. Flywire’s revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) earnings per share. On average, equities analysts expect that Flywire Co. will post 0.05 EPS for the current year.