Flywire Co. (NASDAQ:FLYW) Shares Purchased by Quest Partners LLC

Quest Partners LLC boosted its position in Flywire Co. (NASDAQ:FLYW) by 575.1% in the 3rd quarter, Holdings Channel reports. The fund owned 14,622 shares of the company’s stock after purchasing an additional 12,456 shares during the period. Quest Partners LLC’s holdings in Flywire were worth $240,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Curi RMB Capital LLC acquired a new position in Flywire in the third quarter valued at $1,143,000. Olympiad Research LP acquired a new position in shares of Flywire during the 3rd quarter valued at about $206,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Flywire by 87.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 223,244 shares of the company’s stock worth $3,659,000 after acquiring an additional 104,336 shares during the period. Values First Advisors Inc. boosted its position in shares of Flywire by 13.6% in the third quarter. Values First Advisors Inc. now owns 31,747 shares of the company’s stock worth $520,000 after acquiring an additional 3,805 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Flywire in the third quarter valued at approximately $4,843,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on FLYW shares. Citigroup cut their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $20.00 to $18.00 in a report on Friday, October 11th. 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. B. Riley restated a “buy” rating and set a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. Finally, Morgan Stanley increased their target price on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.86.

Insiders Place Their Bets

In related news, CTO David R. King sold 3,353 shares of the 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 completion of the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at $11,188,119.36. This represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Rob Orgel sold 3,824 shares of Flywire stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $66,193.44. Following the sale, the chief operating officer now directly owns 473,648 shares in the company, valued at $8,198,846.88. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,966 shares of company stock worth $480,143. Insiders own 3.90% of the company’s stock.

Flywire Stock Performance

Flywire stock opened at $22.46 on Wednesday. Flywire Co. has a one year low of $15.19 and a one year high of $31.54. The company has a 50-day simple moving average of $18.22 and a 200-day simple moving average of $17.62. The firm has a market capitalization of $2.79 billion, a P/E ratio of 149.73, a P/E/G ratio of 4.42 and a beta of 0.95.

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.