ABS Direct Equity Fund LLC Makes New Investment in Flywire Co. (NASDAQ:FLYW)

ABS Direct Equity Fund LLC purchased a new stake in Flywire Co. (NASDAQ:FLYW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 100,000 shares of the company's stock, valued at approximately $950,000. Flywire makes up about 1.3% of ABS Direct Equity Fund LLC's holdings, making the stock its 28th biggest position. ABS Direct Equity Fund LLC owned approximately 0.08% of Flywire at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 buying an additional 781,711 shares during the period. Geode Capital Management LLC lifted its holdings in Flywire by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company's stock worth $58,335,000 after acquiring an additional 28,944 shares in the last quarter. Wasatch Advisors LP grew its stake in Flywire by 62.1% in the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company's stock valued at $56,533,000 after acquiring an additional 1,049,888 shares during the period. Franklin Resources Inc. increased its holdings in shares of Flywire by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 1,966,179 shares of the company's stock worth $40,543,000 after acquiring an additional 21,818 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Flywire during the fourth quarter worth about $35,579,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Stock Down 0.8%

Shares of NASDAQ:FLYW opened at $10.70 on Friday. The stock has a market capitalization of $1.30 billion, a PE ratio of 71.33, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The firm's 50 day moving average price is $10.04 and its 200-day moving average price is $14.48. Flywire Co. has a twelve month low of $8.20 and a twelve month high of $23.40.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a "buy" rating to a "hold" rating and reduced their target price for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. Citigroup cut their price objective on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 24th. UBS Group lowered shares of Flywire from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their price target on Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.15.

Insider Transactions at Flywire

In other news, Director Edwin J. Santos sold 5,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $10.50, for a total transaction of $52,500.00. Following the transaction, the director now owns 16,990 shares of the company's stock, valued at approximately $178,395. The trade was a 22.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.

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.

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