JPMorgan Chase & Co. Has $9.45 Million Holdings in Flywire Co. (NASDAQ:FLYW)

JPMorgan Chase & Co. raised its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 94.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 458,213 shares of the company's stock after purchasing an additional 222,804 shares during the quarter. JPMorgan Chase & Co. owned about 0.37% of Flywire worth $9,448,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Emerald Advisers LLC boosted its position in shares of Flywire by 48.6% during the 4th quarter. Emerald Advisers LLC now owns 430,646 shares of the company's stock worth $8,880,000 after purchasing an additional 140,821 shares during the period. Vanguard Group Inc. raised its position in Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after acquiring an additional 781,711 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Flywire in the 4th quarter valued at approximately $493,000. Sei Investments Co. raised its position 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 purchasing an additional 30,572 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Flywire during the 4th quarter worth about $632,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Flywire

In related news, Director Gretchen Howard bought 8,889 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased 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 in the company, valued at approximately $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Peter Butterfield sold 5,523 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares of the company's stock, valued at $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FLYW shares. Deutsche Bank Aktiengesellschaft cut Flywire from a "buy" rating to a "hold" rating and decreased their price target for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. UBS Group lowered shares of Flywire from a "buy" rating to a "neutral" rating and cut their price objective for the company from $25.00 to $15.00 in a research report on Wednesday, February 26th. Seaport Res Ptn cut shares of Flywire from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Morgan Stanley dropped their price target on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Finally, BTIG Research cut Flywire from a "buy" rating to a "neutral" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Flywire has a consensus rating of "Hold" and an average price target of $17.00.

Flywire Trading Up 0.6 %

Shares of Flywire stock traded up $0.05 during trading on Friday, hitting $8.88. 2,281,740 shares of the stock traded hands, compared to its average volume of 1,681,250. The stock's fifty day simple moving average is $11.58 and its 200 day simple moving average is $16.87. Flywire Co. has a 52-week low of $8.20 and a 52-week high of $23.40. The firm has a market cap of $1.10 billion, a P/E ratio of 59.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The business had revenue of $112.80 million for the quarter, compared to analysts' expectations of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. As a group, equities analysts expect that Flywire Co. will post 0.14 EPS for the current year.

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.