Janney Montgomery Scott LLC Purchases 66,133 Shares of Flywire Corporation (NASDAQ:FLYW)

Janney Montgomery Scott LLC increased its stake in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 571.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 77,708 shares of the company's stock after buying an additional 66,133 shares during the period. Janney Montgomery Scott LLC owned 0.06% of Flywire worth $738,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in FLYW. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Flywire during the 4th quarter worth approximately $77,000. Cetera Investment Advisers bought a new position in Flywire during the 4th quarter worth $225,000. State of Wyoming increased its position in Flywire by 80.1% during the 4th quarter. State of Wyoming now owns 10,939 shares of the company's stock worth $226,000 after buying an additional 4,865 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Flywire during the fourth quarter worth $233,000. Finally, Vident Advisory LLC bought a new stake in shares of Flywire in the fourth quarter valued at about $235,000. Institutional investors own 95.90% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on FLYW. Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $9.00 price target (down from $16.00) on shares of Flywire in a research note on Monday, April 14th. Royal Bank Of Canada reduced their price target on Flywire from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. B. Riley lowered their price objective on Flywire from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Finally, Wells Fargo & Company cut their target price on Flywire from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $15.00.

Flywire Trading Up 1.7%

FLYW stock traded up $0.20 during trading on Wednesday, reaching $11.83. The company had a trading volume of 1,883,280 shares, compared to its average volume of 1,887,193. The business has a 50 day moving average of $10.63 and a 200 day moving average of $13.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 2.02. The company has a market cap of $1.44 billion, a P/E ratio of 295.75, a PEG ratio of 1.67 and a beta of 1.28. Flywire Corporation has a 52 week low of $8.20 and a 52 week high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly 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. 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 1.57% and a net margin of 0.97%. The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. As a group, sell-side analysts forecast that Flywire Corporation will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Edwin J. Santos sold 5,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $10.50, for a total transaction of $52,500.00. Following the completion of the sale, the director directly owned 16,990 shares in the company, valued at approximately $178,395. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.