Jane Street Group LLC Decreases Position in Flywire Co. (NASDAQ:FLYW)

Jane Street Group LLC lowered its stake in Flywire Co. (NASDAQ:FLYW) by 22.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 134,052 shares of the company’s stock after selling 37,725 shares during the quarter. Jane Street Group LLC owned about 0.11% of Flywire worth $2,197,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of FLYW. State Street Corp grew its position in Flywire by 5.2% in the third quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after acquiring an additional 145,894 shares in the last quarter. Invenomic Capital Management LP boosted its stake in shares of Flywire by 100.6% in the third quarter. Invenomic Capital Management LP now owns 680,668 shares of the company’s stock valued at $11,156,000 after purchasing an additional 341,411 shares during the period. Holocene Advisors LP grew its holdings in Flywire by 46.8% during the 3rd quarter. Holocene Advisors LP now owns 125,273 shares of the company’s stock valued at $2,053,000 after purchasing an additional 39,941 shares in the last quarter. Ascent Group LLC increased its stake in Flywire by 17.0% during the 3rd quarter. Ascent Group LLC now owns 28,142 shares of the company’s stock worth $461,000 after buying an additional 4,097 shares during the period. Finally, Twenty Acre Capital LP lifted its holdings in Flywire by 21.4% in the 3rd quarter. Twenty Acre Capital LP now owns 390,400 shares of the company’s stock worth $6,399,000 after buying an additional 68,700 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Trading Down 1.4 %

NASDAQ:FLYW opened at $19.84 on Tuesday. The stock has a 50 day moving average of $20.13 and a 200-day moving average of $18.18. The firm has a market capitalization of $2.47 billion, a PE ratio of 132.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Flywire Co. has a 52 week low of $15.19 and a 52 week high of $31.54.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FLYW. Wells Fargo & Company downgraded Flywire from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $20.00 to $18.00 in a research note on Friday, October 11th. The Goldman Sachs Group raised their price objective on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Raymond James upped their target price on Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. B. Riley reissued a “buy” rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Finally, Morgan Stanley increased their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.29.

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.