Flywire Co. (NASDAQ:FLYW) Director Purchases $97,245.66 in Stock

Flywire Co. (NASDAQ:FLYW) Director Gretchen Howard bought 8,889 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.94 per share, with a total value of $97,245.66. Following the purchase, the director now directly owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Flywire Stock Performance

Shares of FLYW stock opened at $10.74 on Thursday. The firm’s 50 day moving average price is $18.47 and its 200-day moving average price is $18.69. Flywire Co. has a one year low of $8.62 and a one year high of $27.06. The firm has a market cap of $1.34 billion, a P/E ratio of 71.60, a P/E/G ratio of 1.41 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. As a group, research analysts predict that Flywire Co. will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank of Canada dropped their price objective 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. BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. Citigroup dropped their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company dropped their price objective on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Stephens cut shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.23.

Hedge Funds Weigh In On Flywire

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted 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 acquiring an additional 17,062 shares during the last quarter. Versor Investments LP acquired a new stake in Flywire during the 4th quarter worth approximately $1,118,000. Jennison Associates LLC lifted its holdings in Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after buying an additional 112,218 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Flywire by 345.3% during 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. Finally, Curi RMB Capital LLC acquired a new stake in Flywire during the 3rd quarter worth approximately $1,143,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Company 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.