Raymond James Financial Inc. Takes $35.58 Million Position in Flywire Co. (NASDAQ:FLYW)

Raymond James Financial Inc. acquired a new stake in Flywire Co. (NASDAQ:FLYW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,725,447 shares of the company's stock, valued at approximately $35,579,000. Raymond James Financial Inc. owned about 1.39% of Flywire at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FLYW. Geode Capital Management LLC increased its holdings in shares of Flywire by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company's stock valued at $45,892,000 after purchasing an additional 17,062 shares during the last quarter. Versor Investments LP purchased a new position in shares of Flywire during the 4th quarter worth $1,118,000. Y Intercept Hong Kong Ltd boosted its position in shares of Flywire by 345.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company's stock valued at $1,980,000 after acquiring an additional 74,465 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Flywire by 38.4% in the fourth quarter. Sei Investments Co. now owns 110,144 shares of the company's stock valued at $2,271,000 after purchasing an additional 30,572 shares during the period. Finally, Vanguard Group Inc. increased its position in Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after purchasing an additional 781,711 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Price Performance

Shares of NASDAQ FLYW traded up $0.06 during mid-day trading on Tuesday, hitting $8.68. The company had a trading volume of 5,704,476 shares, compared to its average volume of 1,702,244. Flywire Co. has a 1-year low of $8.20 and a 1-year high of $23.40. The company has a market capitalization of $1.07 billion, a PE ratio of 57.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. The business's 50-day simple moving average is $11.13 and its 200 day simple moving average is $16.76.

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

Analysts Set New Price Targets

A number of research firms recently commented on FLYW. Wells Fargo & Company decreased their price objective on Flywire from $20.00 to $16.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on Flywire from $15.00 to $11.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada decreased their target price on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $9.00 price target (down from $16.00) on shares of Flywire in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Flywire from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $17.00.

Insider Transactions at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were 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 represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gretchen Howard acquired 8,889 shares of Flywire stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $10.94 per share, with a total value of $97,245.66. Following the transaction, the director now directly owns 30,770 shares in the company, 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. Corporate 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.