Rhumbline Advisers Has $2.78 Million Stake in Flywire Co. (NASDAQ:FLYW)

Rhumbline Advisers lifted its stake in shares of Flywire Co. (NASDAQ:FLYW) by 15.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 169,434 shares of the company’s stock after acquiring an additional 22,891 shares during the period. Rhumbline Advisers owned 0.14% of Flywire worth $2,777,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peregrine Capital Management LLC raised its position in Flywire by 1.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 405,835 shares of the company’s stock valued at $6,652,000 after buying an additional 5,271 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Flywire by 7.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,506 shares of the company’s stock worth $418,000 after acquiring an additional 1,718 shares in the last quarter. RiverPark Advisors LLC raised its holdings in shares of Flywire by 9.6% in the second quarter. RiverPark Advisors LLC now owns 16,142 shares of the company’s stock valued at $265,000 after purchasing an additional 1,416 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Flywire by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 1,445,629 shares of the company’s stock valued at $23,694,000 after purchasing an additional 97,412 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in Flywire by 104.3% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 11,801 shares of the company’s stock worth $193,000 after purchasing an additional 6,025 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

Flywire Stock Down 4.8 %

Flywire stock opened at $16.66 on Thursday. The company’s 50-day moving average price is $17.82 and its 200-day moving average price is $19.26. The company 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 Co. has a twelve month low of $15.19 and a twelve month high of $32.84.

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 for the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts expect that Flywire Co. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLYW. JPMorgan Chase & Co. boosted their price objective on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada cut their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. BTIG Research decreased their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their price target on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.92.

Insider Activity

In other Flywire news, CTO David R. King sold 3,353 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares in the company, valued at $11,188,119.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Peter Butterfield sold 1,769 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 $31,912.76. Following the transaction, the general counsel now owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO David R. King sold 3,353 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares in the company, valued at $11,188,119.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by insiders.

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.