Primecap Management Co. CA Raises Stock Position in Flywire Co. (NASDAQ:FLYW)

Primecap Management Co. CA boosted its position in shares of Flywire Co. (NASDAQ:FLYW) by 253.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,962,633 shares of the company’s stock after purchasing an additional 1,407,180 shares during the period. Primecap Management Co. CA’s holdings in Flywire were worth $32,168,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FLYW. Headlands Technologies LLC purchased a new position in Flywire during the first quarter valued at approximately $46,000. Quest Partners LLC purchased a new position in Flywire during the fourth quarter valued at approximately $52,000. Daiwa Securities Group Inc. purchased a new position in Flywire during the second quarter valued at approximately $64,000. Advisors Asset Management Inc. grew its stake in Flywire by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after acquiring an additional 954 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Flywire by 16.9% during the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after acquiring an additional 733 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Stock Down 2.7 %

NASDAQ:FLYW opened at $17.50 on Wednesday. The company has a fifty day moving average of $17.81 and a 200 day moving average of $19.28. Flywire Co. has a 52 week low of $15.19 and a 52 week high of $32.84. The firm has a market capitalization of $2.17 billion, a P/E ratio of -159.09, a P/E/G ratio of 5.83 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, analysts anticipate that Flywire Co. will post 0.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BTIG Research cut their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Wedbush reissued a “neutral” rating and issued a $18.00 price target on shares of Flywire in a research note on Thursday, May 23rd. Citigroup cut their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.92.

Insider Activity at Flywire

In other Flywire news, COO Rob Orgel sold 4,552 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $82,118.08. Following the completion of the transaction, the chief operating officer now directly owns 477,472 shares in the company, valued at approximately $8,613,594.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Flywire news, CTO David R. King sold 3,353 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the completion of the transaction, the chief technology officer now directly owns 620,184 shares in the company, valued at approximately $11,188,119.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rob Orgel sold 4,552 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $82,118.08. Following the completion of the transaction, the chief operating officer now owns 477,472 shares of the company’s stock, valued at $8,613,594.88. The disclosure for this sale can be found here. Insiders sold 26,966 shares of company stock worth $480,143 in the last three months. 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.