Algert Global LLC Buys Shares of 26,470 Flywire Co. (NASDAQ:FLYW)

Algert Global LLC bought a new position in Flywire Co. (NASDAQ:FLYW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,470 shares of the company's stock, valued at approximately $546,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FLYW. Global Retirement Partners LLC bought a new stake in shares of Flywire in the 4th quarter worth approximately $30,000. Arcadia Investment Management Corp MI bought a new stake in Flywire in the fourth quarter valued at $48,000. KBC Group NV boosted its holdings in shares of Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company's stock valued at $101,000 after acquiring an additional 1,911 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Flywire in the 4th quarter worth about $104,000. Finally, Highland Capital Management LLC acquired a new stake in shares of Flywire in the 4th quarter worth about $221,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Flywire

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

Flywire Stock Performance

Shares of NASDAQ:FLYW traded down $0.19 during trading hours on Tuesday, hitting $11.10. 2,706,834 shares of the company's stock traded hands, compared to its average volume of 1,734,008. The company's fifty day simple moving average is $9.60 and its two-hundred day simple moving average is $16.03. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 74.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. Flywire Co. has a 52 week low of $8.20 and a 52 week high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $128.70 million during the quarter, compared to analysts' expectations of $124.18 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. On average, analysts anticipate that Flywire Co. will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

FLYW has been the subject of several recent analyst reports. Morgan Stanley dropped their price target on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group raised their target price on Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft lowered Flywire from a "buy" rating to a "hold" rating and reduced their price target for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Citigroup lowered their price target on Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Finally, UBS Group cut shares of Flywire from a "buy" rating to a "neutral" rating and cut their price objective for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Flywire currently has a consensus rating of "Hold" and a consensus target price of $15.62.

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.