Flywire Co. (NASDAQ:FLYW) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,149,254 shares of the company's stock after purchasing an additional 107,441 shares during the quarter. Northern Trust Corp owned 0.92% of Flywire worth $23,698,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in Flywire in the fourth quarter valued at about $30,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Flywire in the fourth quarter valued at approximately $48,000. KBC Group NV grew its holdings in Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company's stock worth $101,000 after acquiring an additional 1,911 shares during the period. Venturi Wealth Management LLC purchased a new position in Flywire in the fourth quarter worth $104,000. Finally, Highland Capital Management LLC acquired a new stake in Flywire in the fourth quarter valued at $221,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Insider Activity at Flywire

In related news, Director Gretchen Howard purchased 8,889 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.94 per share, with a total value of $97,245.66. Following the acquisition, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This trade represents a 40.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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 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 disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada cut their price target on Flywire from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. UBS Group cut shares of Flywire from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Finally, BTIG Research cut shares of Flywire from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.62.

Flywire Stock Up 0.3%

Shares of NASDAQ FLYW traded up $0.03 during trading on Friday, hitting $11.36. 1,684,359 shares of the company traded hands, compared to its average volume of 1,743,060. The firm has a market capitalization of $1.40 billion, a P/E ratio of 75.73, a P/E/G ratio of 1.41 and a beta of 1.22. Flywire Co. has a 1 year low of $8.20 and a 1 year high of $23.40. The company has a 50-day moving average price of $9.65 and a 200-day moving average price of $15.96.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $128.70 million during the quarter, compared to the consensus estimate of $124.18 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. Research analysts predict that Flywire Co. will post 0.14 EPS for the current fiscal year.

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.