Flywire Co. (NASDAQ:FLYW) Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. raised its position in Flywire Co. (NASDAQ:FLYW - Free Report) by 200.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 871,356 shares of the company's stock after purchasing an additional 581,351 shares during the period. Balyasny Asset Management L.P. owned about 0.70% of Flywire worth $17,967,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock valued at $249,238,000 after acquiring an additional 781,711 shares in the last quarter. Jennison Associates LLC lifted 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 in the last quarter. Geode Capital Management LLC grew its holdings in Flywire by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company's stock valued at $58,335,000 after buying an additional 28,944 shares during the last quarter. Wasatch Advisors LP increased 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. Finally, Franklin Resources Inc. raised 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 during the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

Flywire Trading Up 8.1 %

Shares of NASDAQ FLYW opened at $10.86 on Thursday. Flywire Co. has a 12-month low of $8.20 and a 12-month high of $23.40. The company has a market cap of $1.34 billion, a P/E ratio of 72.37, a P/E/G ratio of 1.41 and a beta of 1.22. The stock has a fifty day moving average price of $9.56 and a 200 day moving average price of $16.21.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings results 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 analyst estimates of $124.18 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Flywire's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. On average, sell-side analysts forecast that Flywire Co. will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FLYW shares. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $9.00 target price (down previously from $16.00) on shares of Flywire in a research note on Monday, April 14th. Wells Fargo & Company decreased their target price on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered Flywire from a "buy" rating to a "hold" rating and reduced their price target for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. Morgan Stanley lowered their price objective on Flywire from $21.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Finally, Stephens downgraded Flywire from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $15.54.

Insider Buying and Selling

In other news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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 directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gretchen Howard purchased 8,889 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.94 per share, with a total value of $97,245.66. Following the purchase, the director now owns 30,770 shares of the company's stock, valued at approximately $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by insiders.

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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