Jacobs Levy Equity Management Inc. Takes Position in Flywire Co. (NASDAQ:FLYW)

Jacobs Levy Equity Management Inc. acquired a new position in Flywire Co. (NASDAQ:FLYW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 278,013 shares of the company's stock, valued at approximately $5,733,000. Jacobs Levy Equity Management Inc. owned approximately 0.22% of Flywire at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Versor Investments LP purchased a new stake in Flywire in the 4th quarter worth approximately $1,118,000. Y Intercept Hong Kong Ltd boosted its position in Flywire by 345.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company's stock worth $1,980,000 after purchasing an additional 74,465 shares in the last quarter. Sei Investments Co. raised its stake in shares of Flywire by 38.4% during the 4th quarter. Sei Investments Co. now owns 110,144 shares of the company's stock worth $2,271,000 after buying an additional 30,572 shares during the period. Vanguard Group Inc. raised its stake in shares of Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after buying an additional 781,711 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Flywire by 99.7% during the 4th quarter. New York State Common Retirement Fund now owns 220,625 shares of the company's stock worth $4,549,000 after buying an additional 110,124 shares during the period. Hedge funds and other institutional investors own 95.90% of the company's stock.

Flywire Stock Up 0.3%

FLYW traded up $0.03 during trading on Friday, reaching $11.36. 1,684,359 shares of the company's stock were exchanged, compared to its average volume of 1,746,037. The business has a 50 day moving average price of $9.68 and a 200 day moving average price of $15.92. Flywire Co. has a fifty-two week low of $8.20 and a fifty-two week high of $23.40. The company has a market capitalization of $1.40 billion, a P/E ratio of 75.73, a PEG ratio of 1.41 and a beta of 1.22.

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

Wall Street Analyst Weigh In

FLYW has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on Flywire from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. UBS Group downgraded Flywire from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $9.00 price objective (down from $16.00) on shares of Flywire in a research note on Monday, April 14th. Citigroup dropped their target price on Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Stephens cut Flywire from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.62.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction on 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 in the company, valued at $2,495,414.88. This trade represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gretchen Howard bought 8,889 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased 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 owns 30,770 shares in the company, valued at $336,623.80. This represents a 40.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.90% 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.