Flywire Co. (NASDAQ:FLYW) Shares Bought by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. boosted its stake in shares of Flywire Co. (NASDAQ:FLYW) by 30.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 31,550 shares of the company’s stock after acquiring an additional 7,300 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Flywire were worth $517,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FLYW. Headlands Technologies LLC acquired a new position in Flywire during the first quarter worth $46,000. Quest Partners LLC acquired a new stake in shares of Flywire in the fourth quarter valued at about $52,000. Daiwa Securities Group Inc. acquired a new stake in shares of Flywire in the second quarter valued at about $64,000. Advisors Asset Management Inc. raised its position in shares of Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after buying an additional 954 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after buying an additional 733 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLYW has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. BTIG Research reduced their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup dropped their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

Insider Activity

In other news, General Counsel Peter Butterfield sold 1,769 shares of the firm’s 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 completion of the transaction, the general counsel now owns 273,517 shares of the company’s stock, valued at $4,934,246.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Michael Massaro sold 8,629 shares of the firm’s 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 $155,667.16. Following the sale, the chief executive officer now owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $31,912.76. Following the completion of the sale, the general counsel now directly owns 273,517 shares in the company, valued at approximately $4,934,246.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by company insiders.

Flywire Price Performance

Shares of FLYW stock opened at $16.56 on Friday. The firm has a market cap of $2.06 billion, a PE ratio of -150.55, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a 50-day moving average of $17.80 and a two-hundred day moving average of $19.17. Flywire Co. has a 1-year low of $15.19 and a 1-year high of $32.84.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) EPS 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 business had revenue of $103.68 million during the quarter, compared to analysts’ expectations of $100.30 million. During the same period in the previous year, the business posted ($0.15) EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Sell-side analysts anticipate that Flywire Co. will post 0.06 EPS for the current fiscal year.

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.