Swiss National Bank Purchases 3,400 Shares of Flywire Co. (NASDAQ:FLYW)

Swiss National Bank lifted its position in shares of Flywire Co. (NASDAQ:FLYW) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,400 shares of the company’s stock after acquiring an additional 3,400 shares during the period. Swiss National Bank owned approximately 0.18% of Flywire worth $4,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Flywire by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after purchasing an additional 17,062 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Flywire during the fourth quarter valued at $1,118,000. Y Intercept Hong Kong Ltd increased its holdings in Flywire by 345.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock worth $1,980,000 after buying an additional 74,465 shares in the last quarter. FMR LLC raised its position in Flywire by 3.6% in the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after buying an additional 326,120 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Flywire by 99.7% during the 4th quarter. New York State Common Retirement Fund now owns 220,625 shares of the company’s stock valued at $4,549,000 after acquiring an additional 110,124 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gretchen Howard purchased 8,889 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the purchase, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.

Flywire Price Performance

FLYW opened at $10.06 on Tuesday. The firm has a market cap of $1.24 billion, a P/E ratio of 67.07, a PEG ratio of 1.41 and a beta of 1.17. Flywire Co. has a 1-year low of $8.62 and a 1-year high of $25.27. The company has a 50 day simple moving average of $16.00 and a two-hundred day simple moving average of $18.02.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The business had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. Equities analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

FLYW has been the subject of several research reports. BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Royal Bank of Canada decreased their target price on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and dropped their price target for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $15.00 in a research report on Wednesday, February 26th. Finally, Raymond James cut Flywire from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.23.

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.