Flywire Co. (NASDAQ:FLYW) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in Flywire Co. (NASDAQ:FLYW) by 7.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,295 shares of the company’s stock after purchasing an additional 1,411 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Flywire were worth $349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLYW. William Blair Investment Management LLC grew its stake in shares of Flywire by 125.1% during the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after acquiring an additional 6,519,598 shares during the last quarter. Jennison Associates LLC grew its position in Flywire by 129.7% during the 1st quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock worth $46,170,000 after purchasing an additional 1,050,924 shares during the last quarter. Capital International Investors increased its stake in Flywire by 21.8% during the 4th quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock valued at $62,819,000 after purchasing an additional 485,654 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Flywire by 10.3% in the first quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock worth $120,018,000 after buying an additional 450,760 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Flywire during the fourth quarter worth $10,130,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Stock Down 2.5 %

Shares of Flywire stock opened at $16.56 on Friday. The firm has a market cap of $2.06 billion, a PE ratio of -150.55, a P/E/G 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. The business has a 50-day moving average price of $17.80 and a 200 day moving average price of $19.17.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The business had revenue of $103.68 million during the quarter, compared to analysts’ expectations of $100.30 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts expect that Flywire Co. will post 0.06 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Citigroup cut their price target on shares of 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 objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company cut their price objective on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Flywire has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

Insider Buying and Selling at Flywire

In other news, General Counsel Peter Butterfield sold 1,769 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $31,912.76. Following the completion of the sale, the general counsel now owns 273,517 shares of the company’s stock, valued at $4,934,246.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the sale, the general counsel now directly owns 273,517 shares of the company’s stock, valued at $4,934,246.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David R. King sold 3,353 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the sale, the chief technology officer now owns 620,184 shares of the company’s stock, valued at $11,188,119.36. 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 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

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.