Alliancebernstein L.P. Buys 1,839 Shares of Flywire Co. (NASDAQ:FLYW)

Alliancebernstein L.P. grew its stake in Flywire Co. (NASDAQ:FLYW) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,705 shares of the company’s stock after buying an additional 1,839 shares during the quarter. Alliancebernstein L.P.’s holdings in Flywire were worth $3,004,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FLYW. Raymond James Financial Inc. purchased a new stake in Flywire in the 4th quarter worth approximately $35,579,000. Teacher Retirement System of Texas purchased a new stake in shares of Flywire in the fourth quarter worth $24,363,000. Jennison Associates LLC raised its position in shares of Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after purchasing an additional 1,179,562 shares during the period. Vanguard Group Inc. lifted its stake in shares of Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after buying an additional 781,711 shares in the last quarter. Finally, Norges Bank bought a new position in Flywire in the 4th quarter worth $7,541,000. 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 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 sale, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gretchen Howard bought 8,889 shares of the 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 completion of the purchase, the director now directly owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

FLYW has been the topic of a number of recent analyst reports. Stephens cut Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $9.00 price objective (down from $16.00) on shares of Flywire in a report on Monday. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group cut their target price on shares of Flywire from $15.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Flywire presently has a consensus rating of “Hold” and an average target price of $17.00.

Flywire Price Performance

NASDAQ:FLYW opened at $8.61 on Wednesday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 57.40, a PEG ratio of 1.41 and a beta of 1.22. The business has a 50 day simple moving average of $12.29 and a 200-day simple moving average of $17.02. Flywire Co. has a 1 year low of $8.20 and a 1 year high of $23.40.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $118.85 million. As a group, analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

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.