Point72 Asset Management L.P. Invests $12.64 Million in Flywire Co. (NASDAQ:FLYW)

Point72 Asset Management L.P. acquired a new stake in shares of Flywire Co. (NASDAQ:FLYW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 771,323 shares of the company’s stock, valued at approximately $12,642,000. Point72 Asset Management L.P. owned 0.62% of Flywire as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in Flywire in the second quarter valued at approximately $26,000. Creative Planning purchased a new stake in shares of Flywire during the 2nd quarter valued at $356,000. Algert Global LLC acquired a new stake in shares of Flywire during the 2nd quarter worth $180,000. Ascent Group LLC raised its position in shares of Flywire by 69.7% in the 2nd quarter. Ascent Group LLC now owns 24,045 shares of the company’s stock worth $394,000 after buying an additional 9,880 shares during the period. Finally, Scientech Research LLC acquired a new position in Flywire in the second quarter valued at $319,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Activity

In related news, CTO David R. King sold 3,353 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the sale, the chief technology officer now owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Flywire 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 in the company, valued at $31,377,892.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David R. King sold 3,353 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares of the company’s stock, valued at $11,188,119.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FLYW has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. BTIG Research cut their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Citigroup decreased their target price on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.92.

Flywire Trading Down 0.5 %

Shares of FLYW opened at $16.39 on Tuesday. Flywire Co. has a 52 week low of $15.19 and a 52 week high of $31.95. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -149.00, a PEG ratio of 5.42 and a beta of 0.98. The stock has a 50 day moving average of $17.59 and a 200-day moving average of $18.66.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The business had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. During the same period last year, the company posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, sell-side analysts predict that Flywire Co. will post 0.06 earnings per share for the current fiscal year.

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.