Nuveen Asset Management LLC Acquires 712,843 Shares of Flywire Co. (NASDAQ:FLYW)

Nuveen Asset Management LLC grew its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 79.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,610,136 shares of the company's stock after acquiring an additional 712,843 shares during the period. Nuveen Asset Management LLC owned about 1.29% of Flywire worth $33,201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLYW. Global Retirement Partners LLC bought a new position in shares of Flywire during the 4th quarter valued at approximately $30,000. Arcadia Investment Management Corp MI bought a new position in shares of Flywire during the 4th quarter valued at approximately $48,000. KBC Group NV grew its position in shares of Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company's stock valued at $101,000 after acquiring an additional 1,911 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Flywire during the 4th quarter valued at approximately $104,000. Finally, Highland Capital Management LLC bought a new position in shares of Flywire during the 4th quarter valued at approximately $221,000. 95.90% of the stock is owned by institutional investors.

Flywire Stock Down 4.1%

Shares of FLYW stock traded down $0.45 on Tuesday, reaching $10.58. The company's stock had a trading volume of 4,324,617 shares, compared to its average volume of 1,773,961. Flywire Co. has a 12-month low of $8.20 and a 12-month high of $23.40. The company has a market capitalization of $1.29 billion, a P/E ratio of 70.53, a PEG ratio of 1.41 and a beta of 1.22. The stock's 50 day simple moving average is $9.81 and its 200-day simple moving average is $15.56.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $124.18 million. During the same quarter last year, the business posted ($0.05) earnings per share. The firm's revenue was up 17.0% compared to the same quarter last year. Research analysts expect that Flywire Co. will post 0.14 EPS for the current year.

Insider Activity

In related news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the acquisition, the director now owns 30,770 shares in the company, valued at $336,623.80. The trade was a 40.62% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

FLYW has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price target on shares of Flywire from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company dropped their price target on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Stephens cut shares of Flywire from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. restated an "underweight" rating and set a $9.00 price target (down from $16.00) on shares of Flywire in a research note on Monday, April 14th. Finally, Raymond James cut shares of Flywire from a "strong-buy" rating to an "outperform" rating and dropped their price target for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $15.42.

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.