Intech Investment Management LLC Acquires New Holdings in Flywire Co. (NASDAQ:FLYW)

Intech Investment Management LLC purchased a new position in Flywire Co. (NASDAQ:FLYW) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 32,301 shares of the company’s stock, valued at approximately $529,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Flywire in the 2nd quarter valued at $26,000. Headlands Technologies LLC boosted its stake in Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after purchasing an additional 1,509 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Flywire in the second quarter worth $64,000. Advisors Asset Management Inc. boosted its stake in Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Flywire in the third quarter worth $149,000. 95.90% of the stock is owned by institutional investors.

Insider Transactions at Flywire

In related news, CTO David R. King sold 3,353 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $60,488.12. Following the completion of the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 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 value of $31,912.76. Following the transaction, the general counsel now directly owns 273,517 shares of the company’s stock, valued at $4,934,246.68. This trade represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,966 shares of company stock valued at $480,143 over the last three months. Company insiders own 3.90% of the company’s stock.

Flywire Price Performance

FLYW stock opened at $22.71 on Monday. The stock has a market capitalization of $2.83 billion, a P/E ratio of 151.40, a P/E/G ratio of 4.38 and a beta of 0.95. The business has a 50-day moving average of $18.70 and a 200-day moving average of $17.78. Flywire Co. has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLYW. Morgan Stanley upped their price target on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Citigroup dropped their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Raymond James upped their price objective on Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Royal Bank of Canada dropped their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, B. Riley reiterated a “buy” rating and issued a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.86.

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.