Handelsbanken Fonder AB lifted its holdings in shares of 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 institutional investor owned 15,700 shares of the company’s stock after purchasing an additional 4,200 shares during the period. Handelsbanken Fonder AB’s holdings in Flywire were worth $363,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of FLYW. Vanguard Group Inc. increased its position in Flywire by 13.8% during the third quarter. Vanguard Group Inc. now owns 10,517,763 shares of the company’s stock worth $335,411,000 after buying an additional 1,278,646 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Flywire by 10.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,514,112 shares of the company’s stock worth $112,065,000 after purchasing an additional 327,994 shares in the last quarter. Fred Alger Management LLC increased its position in Flywire by 3.2% during the 3rd quarter. Fred Alger Management LLC now owns 3,479,847 shares of the company’s stock worth $110,972,000 after purchasing an additional 108,749 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Flywire in the 3rd quarter valued at about $100,341,000. Finally, Invesco Ltd. lifted its holdings in Flywire by 23.5% in the 3rd quarter. Invesco Ltd. now owns 3,106,540 shares of the company’s stock valued at $99,068,000 after purchasing an additional 591,904 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Flywire news, CEO Michael Massaro sold 13,043 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total transaction of $313,945.01. Following the transaction, the chief executive officer now owns 1,655,673 shares of the company’s stock, valued at approximately $39,852,049.11. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Flywire news, CEO Michael Massaro sold 13,043 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the sale, the chief executive officer now directly owns 1,655,673 shares of the company’s stock, valued at $39,852,049.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO David R. King sold 9,366 shares of Flywire stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the completion of the transaction, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at $16,968,806.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,800 shares of company stock worth $3,743,582. Corporate insiders own 5.00% of the company’s stock.
Analysts Set New Price Targets
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FLYW has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Flywire in a research report on Tuesday, February 6th. They issued a “buy” rating and a $27.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Flywire in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their target price on Flywire from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Oppenheimer assumed coverage on Flywire in a report on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 price target for the company. Finally, Citigroup cut their price objective on shares of Flywire from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Flywire presently has a consensus rating of “Moderate Buy” and an average target price of $34.27.
View Our Latest Research Report on Flywire
Flywire Stock Down 0.7 %
FLYW stock opened at $20.25 on Friday. The stock’s 50 day moving average is $23.88 and its two-hundred day moving average is $23.45. Flywire Co. has a 52-week low of $18.65 and a 52-week high of $35.80. The company 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 (NASDAQ:FLYW – Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $100.55 million during the quarter, compared to analyst estimates of $88.52 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business’s revenue was up 37.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. As a group, sell-side analysts anticipate that Flywire Co. will post 0.05 EPS 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.
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