Adage Capital Partners GP L.L.C. Boosts Stock Position in Flywire Co. (NASDAQ:FLYW)

Adage Capital Partners GP L.L.C. boosted its position in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 196.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 163,062 shares of the company's stock after acquiring an additional 108,062 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.13% of Flywire worth $3,362,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FLYW. Arizona State Retirement System raised its position in Flywire by 1.6% during the fourth quarter. Arizona State Retirement System now owns 32,215 shares of the company's stock valued at $664,000 after acquiring an additional 513 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Flywire by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company's stock valued at $261,000 after buying an additional 802 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Flywire during the 4th quarter worth approximately $30,000. Harbor Capital Advisors Inc. boosted its stake in Flywire by 0.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company's stock worth $4,635,000 after buying an additional 1,531 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Flywire by 1.3% in the fourth quarter. Alliancebernstein L.P. now owns 145,705 shares of the company's stock valued at $3,004,000 after purchasing an additional 1,839 shares during the period. Hedge funds and other institutional investors own 95.90% of the company's stock.

Flywire Price Performance

Flywire stock remained flat at $9.57 during mid-day trading on Friday. 1,421,683 shares of the company's stock were exchanged, compared to its average volume of 1,744,791. The company has a market cap of $1.18 billion, a P/E ratio of 63.80, a P/E/G ratio of 1.41 and a beta of 1.22. Flywire Co. has a 12 month low of $8.20 and a 12 month high of $23.40. The business's 50-day simple moving average is $9.61 and its 200-day simple moving average is $16.36.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (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 for the quarter, compared to analyst estimates of $118.85 million. On average, analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Flywire

In related news, Director Gretchen Howard purchased 8,889 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the acquisition, the director now directly owns 30,770 shares in the company, valued at $336,623.80. This trade represents a 40.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the transaction, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FLYW. Raymond James lowered Flywire from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a research report on Wednesday, April 23rd. The Goldman Sachs Group cut their price target on Flywire from $15.00 to $11.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company dropped their target price on shares of Flywire from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, Seaport Res Ptn cut Flywire from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $16.00.

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.