Renaissance Group LLC Boosts Holdings in Flywire Co. (NASDAQ:FLYW)

Renaissance Group LLC increased its holdings in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 29.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 201,592 shares of the company's stock after acquiring an additional 45,401 shares during the period. Renaissance Group LLC owned approximately 0.16% of Flywire worth $4,157,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in Flywire during the fourth quarter worth $30,000. Arcadia Investment Management Corp MI acquired a new position in shares of Flywire during the fourth quarter valued at approximately $48,000. KBC Group NV boosted its stake in shares of Flywire by 64.0% in 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 last quarter. Venturi Wealth Management LLC purchased a new position in Flywire in the 4th quarter valued at $104,000. Finally, World Investment Advisors LLC purchased a new position in shares of Flywire in the third quarter worth about $209,000. Hedge funds and other institutional investors own 95.90% of the company's stock.

Flywire Trading Up 0.7 %

FLYW stock traded up $0.06 during trading on Monday, hitting $8.59. 490,663 shares of the company's stock were exchanged, compared to its average volume of 2,461,533. The business has a 50-day moving average price of $12.74 and a two-hundred day moving average price of $17.13. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 57.27, a PEG ratio of 1.41 and a beta of 1.22. Flywire Co. has a 52-week low of $8.20 and a 52-week high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results 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 analyst estimates of $118.85 million. On average, equities research analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Seaport Res Ptn cut Flywire from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Wells Fargo & Company decreased their target price on shares of Flywire from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $9.00 price target (down from $16.00) on shares of Flywire in a research report on Monday. Stephens lowered shares of Flywire from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Finally, UBS Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and dropped their target price for the company from $25.00 to $15.00 in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $17.00.

Insiders Place Their Bets

In other Flywire news, Director Gretchen Howard bought 8,889 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.94 per share, with a total value of $97,245.66. Following the acquisition, the director now directly owns 30,770 shares of the company's stock, valued at $336,623.80. The trade was a 40.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $55,671.84. Following the sale, the general counsel now owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their position. The disclosure for this sale 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.