Creative Planning Purchases New Position in Flywire Co. (NASDAQ:FLYW)

Creative Planning purchased a new stake in Flywire Co. (NASDAQ:FLYW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,745 shares of the company’s stock, valued at approximately $356,000.

Several other institutional investors have also bought and sold shares of the stock. Algert Global LLC acquired a new stake in Flywire in the 2nd quarter valued at $180,000. Ascent Group LLC boosted its stake in Flywire by 69.7% in the 2nd quarter. Ascent Group LLC now owns 24,045 shares of the company’s stock valued at $394,000 after buying an additional 9,880 shares in the last quarter. Scientech Research LLC acquired a new stake in Flywire in the 2nd quarter valued at $319,000. The Manufacturers Life Insurance Company boosted its stake in Flywire by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,428 shares of the company’s stock valued at $1,122,000 after buying an additional 8,034 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Flywire in the 2nd quarter valued at $528,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Buying and Selling at Flywire

In other Flywire news, CTO David R. King sold 3,353 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Flywire news, CTO David R. King sold 3,353 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the completion of the sale, the chief technology officer now directly owns 620,184 shares in the company, valued at $11,188,119.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Massaro sold 8,629 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $155,667.16. Following the completion of the sale, the chief executive officer now owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FLYW has been the topic of several recent analyst reports. B. Riley reaffirmed a “buy” rating and issued a $30.00 price target on shares of Flywire in a research note on Wednesday, October 2nd. Royal Bank of Canada reduced their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. BTIG Research reduced their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. 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 note on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Flywire presently has an average rating of “Moderate Buy” and an average target price of $26.07.

Flywire Stock Up 1.1 %

Shares of FLYW opened at $17.14 on Thursday. Flywire Co. has a 12-month low of $15.19 and a 12-month high of $31.54. The firm has a market capitalization of $2.13 billion, a PE ratio of -155.82, a price-to-earnings-growth ratio of 6.94 and a beta of 0.97. The stock’s fifty day simple moving average is $17.15 and its 200-day simple moving average is $17.98.

Flywire (NASDAQ:FLYW) last released its earnings results 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). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. During the same period in the previous year, the company posted ($0.15) EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that Flywire Co. will post 0.05 EPS for the current year.

Flywire 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.