Silvercrest Asset Management Group LLC Buys 94,280 Shares of Flywire Co. (NASDAQ:FLYW)

Silvercrest Asset Management Group LLC grew its holdings in Flywire Co. (NASDAQ:FLYW - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 592,489 shares of the company's stock after acquiring an additional 94,280 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.48% of Flywire worth $12,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FLYW. Raymond James Financial Inc. bought a new stake in Flywire in the 4th quarter valued at about $35,579,000. Voss Capital LP acquired a new stake in shares of Flywire in the fourth quarter valued at approximately $30,621,000. Teacher Retirement System of Texas acquired a new stake in shares of Flywire in the fourth quarter valued at approximately $24,363,000. Jennison Associates LLC boosted its stake in shares of Flywire by 53.0% in the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company's stock valued at $70,238,000 after buying an additional 1,179,562 shares during the period. Finally, Wasatch Advisors LP grew its position in Flywire by 62.1% during the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company's stock worth $56,533,000 after buying an additional 1,049,888 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Flywire from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Citigroup decreased their price target on Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a "buy" rating to a "hold" rating and cut their price objective for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Stephens lowered shares of Flywire from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their target price on shares of Flywire from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $15.62.

Flywire Stock Down 0.8%

Shares of FLYW stock traded down $0.09 on Friday, reaching $10.94. The company had a trading volume of 443,847 shares, compared to its average volume of 1,756,133. The business's 50-day moving average is $9.77 and its 200 day moving average is $15.75. Flywire Co. has a one year low of $8.20 and a one year high of $23.40. The stock has a market capitalization of $1.33 billion, a PE ratio of 72.97, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22.

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

Insiders Place Their Bets

In other Flywire news, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, with a total value of $97,245.66. Following the acquisition, the director now directly owns 30,770 shares of the company's stock, valued at $336,623.80. The trade was a 40.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $55,671.84. Following the completion of the transaction, the general counsel now owns 247,561 shares of the company's stock, 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. Insiders own 3.90% of the company's stock.

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.