Flywire Co. (NASDAQ:FLYW) Shares Acquired by Peregrine Capital Management LLC

Peregrine Capital Management LLC increased its holdings in Flywire Co. (NASDAQ:FLYW) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 405,835 shares of the company’s stock after buying an additional 5,271 shares during the period. Peregrine Capital Management LLC owned about 0.33% of Flywire worth $6,652,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Flywire in the 1st quarter valued at about $46,000. Quest Partners LLC acquired a new position in shares of Flywire in the 4th quarter valued at about $52,000. Advisors Asset Management Inc. boosted its holdings in shares of Flywire by 45.6% in the 1st 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 period. Assetmark Inc. boosted its holdings in shares of Flywire by 16.9% in the 4th 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 period. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Flywire by 104.3% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 11,801 shares of the company’s stock valued at $193,000 after buying an additional 6,025 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Trading Down 0.9 %

Shares of NASDAQ FLYW traded down $0.17 during midday trading on Friday, reaching $18.11. The company’s stock had a trading volume of 1,430,811 shares, compared to its average volume of 1,500,186. The company has a 50 day moving average price of $17.41 and a 200 day moving average price of $19.93. Flywire Co. has a one year low of $15.19 and a one year high of $35.01. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -166.18, a price-to-earnings-growth ratio of 5.47 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last released its 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 return on equity of 1.56% and a negative net margin of 2.63%. The business had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. Research analysts anticipate that Flywire Co. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FLYW. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. William Blair reiterated an “outperform” rating on shares of Flywire in a research report on Wednesday, May 8th. UBS Group cut their price objective on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Citigroup cut their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and an average price target of $25.92.

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.