Ensign Peak Advisors Inc Boosts Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Ensign Peak Advisors Inc grew its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 825.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 414,800 shares of the company's stock after buying an additional 370,000 shares during the period. Ensign Peak Advisors Inc owned 0.33% of Flywire worth $8,553,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Versor Investments LP acquired a new position in Flywire in the fourth quarter valued at $1,118,000. Y Intercept Hong Kong Ltd raised 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 worth $1,980,000 after purchasing an additional 74,465 shares during the period. Sei Investments Co. raised its holdings in shares of Flywire by 38.4% in the 4th quarter. Sei Investments Co. now owns 110,144 shares of the company's stock worth $2,271,000 after purchasing an additional 30,572 shares during the period. Vanguard Group Inc. lifted its stake in shares of Flywire by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock valued at $249,238,000 after purchasing an additional 781,711 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Flywire by 99.7% during the 4th quarter. New York State Common Retirement Fund now owns 220,625 shares of the company's stock worth $4,549,000 after purchasing an additional 110,124 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stephens lowered shares of Flywire from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $9.00 price objective (down previously from $16.00) on shares of Flywire in a research report on Monday, April 14th. Raymond James lowered shares of Flywire from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $29.00 to $17.00 in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a "buy" rating to a "hold" rating and decreased their price target for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Finally, Seaport Res Ptn lowered Flywire from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.62.

Insider Activity

In other news, Director Gretchen Howard purchased 8,889 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were 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. The trade was a 2.18% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.90% of the company's stock.

Flywire Stock Performance

NASDAQ:FLYW opened at $11.29 on Tuesday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 75.27, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. Flywire Co. has a one year low of $8.20 and a one year high of $23.40. The business's 50-day simple moving average is $9.58 and its 200 day simple moving average is $16.07.

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

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