Vanguard Group Inc. Buys 781,711 Shares of Flywire Co. (NASDAQ:FLYW)

Vanguard Group Inc. increased its stake in shares of Flywire Co. (NASDAQ:FLYW) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,087,221 shares of the company’s stock after buying an additional 781,711 shares during the quarter. Vanguard Group Inc. owned 9.71% of Flywire worth $249,238,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FLYW. Geode Capital Management LLC grew its position in Flywire by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after acquiring an additional 17,062 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Flywire in the fourth quarter valued at $1,118,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Flywire by 345.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock valued at $1,980,000 after buying an additional 74,465 shares during the last quarter. New York State Common Retirement Fund lifted its position 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 worth $4,549,000 after buying an additional 110,124 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Flywire during the 4th quarter worth about $947,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

FLYW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a “buy” rating to a “hold” rating and reduced their target price for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on Flywire from $15.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday. Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Royal Bank of Canada dropped their price objective on Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup lowered their price target on shares of Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Flywire presently has a consensus rating of “Hold” and an average target price of $17.92.

Flywire Stock Down 2.0 %

FLYW opened at $9.10 on Friday. The company has a fifty day simple moving average of $14.24 and a 200 day simple moving average of $17.52. The stock has a market cap of $1.12 billion, a P/E ratio of 60.67, a P/E/G ratio of 1.41 and a beta of 1.22. Flywire Co. has a 12 month low of $8.62 and a 12 month high of $23.90.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) 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 for the quarter, compared to analyst estimates of $118.85 million. On average, equities research analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of the business’s 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 owns 247,561 shares of the company’s stock, valued at $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by insiders.

About Flywire

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.