Edgestream Partners L.P. Buys 94,505 Shares of Flywire Co. (NASDAQ:FLYW)

Edgestream Partners L.P. boosted its position in shares of Flywire Co. (NASDAQ:FLYW) by 198.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,082 shares of the company’s stock after purchasing an additional 94,505 shares during the period. Edgestream Partners L.P. owned about 0.11% of Flywire worth $2,329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLYW. Nebula Research & Development LLC bought a new position in shares of Flywire during the fourth quarter worth about $1,082,000. Bullseye Asset Management LLC grew its stake in shares of Flywire by 123.4% during the 4th quarter. Bullseye Asset Management LLC now owns 98,325 shares of the company’s stock worth $2,276,000 after acquiring an additional 54,306 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of Flywire during the 4th quarter worth approximately $9,505,000. Primecap Management Co. CA raised its holdings in shares of Flywire by 671.2% in the fourth quarter. Primecap Management Co. CA now owns 147,300 shares of the company’s stock valued at $3,410,000 after purchasing an additional 128,200 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Flywire by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock worth $249,124,000 after purchasing an additional 243,523 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Buying and Selling at Flywire

In other news, CTO David R. King sold 3,504 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the completion of the sale, the chief technology officer now owns 616,680 shares in the company, valued at $10,674,730.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Flywire news, CEO Michael Massaro sold 8,629 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the transaction, the chief executive officer now owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David R. King sold 3,504 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $60,654.24. Following the completion of the sale, the chief technology officer now directly owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,966 shares of company stock valued at $480,143 in the last three months. 3.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BTIG Research decreased their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company decreased their price objective on Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Citigroup dropped their target price on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada decreased their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flywire currently has a consensus rating of “Moderate Buy” and an average target price of $25.92.

Flywire Trading Down 4.8 %

FLYW opened at $16.66 on Thursday. The stock’s fifty day simple moving average is $17.82 and its 200 day simple moving average is $19.26. Flywire Co. has a 1-year low of $15.19 and a 1-year high of $32.84. The stock has a market cap of $2.07 billion, a PE ratio of -151.45, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. Flywire’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share. Equities analysts forecast that Flywire Co. will post 0.06 earnings per share for the current year.

About Flywire

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.