Bank of Montreal Can Purchases Shares of 24,695 Flywire Co. (NASDAQ:FLYW)

Bank of Montreal Can bought a new stake in Flywire Co. (NASDAQ:FLYW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 24,695 shares of the company’s stock, valued at approximately $405,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLYW. William Blair Investment Management LLC lifted its holdings 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 valued at $192,284,000 after purchasing an additional 6,519,598 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Flywire by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after purchasing an additional 100,704 shares during the last quarter. Westfield Capital Management Co. LP increased its position in Flywire by 10.3% during the first quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock worth $120,018,000 after acquiring an additional 450,760 shares during the period. Primecap Management Co. CA increased its stake in Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after acquiring an additional 1,407,180 shares during the period. Finally, Jennison Associates LLC increased its holdings in Flywire by 129.7% in the 1st quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock valued at $46,170,000 after buying an additional 1,050,924 shares during the period. Institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FLYW shares. Royal Bank of Canada cut their target price 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. Citigroup reduced their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, B. Riley reaffirmed a “buy” rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

Insider Buying and Selling

In other Flywire news, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $66,193.44. Following the sale, the chief operating officer now owns 473,648 shares in the company, valued at approximately $8,198,846.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Flywire news, CTO David R. King sold 3,504 shares of the 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 transaction, the chief technology officer now directly owns 616,680 shares in the company, valued at approximately $10,674,730.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rob Orgel sold 3,824 shares of Flywire stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the sale, the chief operating officer now directly owns 473,648 shares of the company’s stock, valued at approximately $8,198,846.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,966 shares of company stock worth $480,143 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Flywire Price Performance

Flywire stock opened at $16.49 on Friday. The firm has a market cap of $2.05 billion, a PE ratio of -149.91, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. The stock’s fifty day moving average price is $17.26 and its two-hundred day moving average price is $18.25. Flywire Co. has a one year low of $15.19 and a one year high of $31.61.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 1.03% and a negative net margin of 1.85%. During the same period last year, the company posted ($0.15) EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. Sell-side analysts expect that Flywire Co. will post 0.06 earnings per share for the current fiscal 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.