Silvercrest Asset Management Group LLC Raises Stake in Flywire Co. (NASDAQ:FLYW)

Silvercrest Asset Management Group LLC increased its holdings in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 18.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 about 0.48% of Flywire worth $12,217,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FLYW. Raymond James Financial Inc. acquired a new position in shares of Flywire in the fourth quarter valued at $35,579,000. Voss Capital LP acquired a new stake in shares of Flywire during the 4th quarter worth about $30,621,000. Teacher Retirement System of Texas bought a new stake in shares of Flywire during the 4th quarter worth about $24,363,000. Jennison Associates LLC grew its stake in Flywire by 53.0% in the 4th 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 last quarter. Finally, Wasatch Advisors LP lifted 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 acquiring an additional 1,049,888 shares during the last quarter. Institutional investors own 95.90% of the company's stock.

Flywire Stock Performance

Shares of FLYW traded down $0.33 during mid-day trading on Wednesday, reaching $11.48. The company had a trading volume of 2,069,904 shares, compared to its average volume of 1,753,121. Flywire Co. has a 1-year low of $8.20 and a 1-year high of $23.40. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 76.53, a P/E/G ratio of 1.41 and a beta of 1.22. The company's 50 day simple moving average is $9.74 and its 200 day simple moving average is $15.82.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wolfe Research reiterated a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. Raymond James downgraded shares of 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. Citigroup dropped their price objective on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a "buy" rating to a "hold" rating and cut their price objective for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their target price on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $15.62.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 5,523 shares of the business'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 transaction, the general counsel now directly owns 247,561 shares of the company's stock, valued at $2,495,414.88. The trade was a 2.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gretchen Howard purchased 8,889 shares of the business's stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the acquisition, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. This represents a 40.62% increase in their position. The disclosure for this purchase can be found here. Company 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.