Vanguard Group Inc. Has $249.24 Million Stock Position in Flywire Co. (NASDAQ:FLYW)

Vanguard Group Inc. boosted its stake in Flywire Co. (NASDAQ:FLYW) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,087,221 shares of the company’s stock after purchasing an additional 781,711 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Flywire worth $249,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FLYW. Geode Capital Management LLC raised its position 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 valued at $45,892,000 after buying an additional 17,062 shares in the last quarter. Versor Investments LP bought a new stake in Flywire during the fourth quarter worth $1,118,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Flywire by 345.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock valued at $1,980,000 after purchasing an additional 74,465 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Flywire by 99.7% in the 4th quarter. New York State Common Retirement Fund now owns 220,625 shares of the company’s stock valued at $4,549,000 after purchasing an additional 110,124 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Flywire during the 4th quarter worth $947,000. Institutional investors own 95.90% of the company’s stock.

Insider Activity at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gretchen Howard bought 8,889 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the transaction, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FLYW. Raymond James lowered Flywire from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Citigroup dropped their price objective on shares of Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 24th. The Goldman Sachs Group decreased their target price on shares of Flywire from $15.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and dropped their target price for the company from $26.00 to $16.00 in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Flywire presently has a consensus rating of “Hold” and a consensus target price of $17.92.

Flywire Stock Performance

Shares of FLYW opened at $9.10 on Friday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 60.67, a P/E/G ratio of 1.41 and a beta of 1.22. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $23.90. The stock has a 50 day moving average price of $14.24 and a two-hundred day moving average price of $17.52.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The company had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. On average, equities analysts forecast that Flywire Co. will post 0.14 earnings per share for the current 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.