Renaissance Technologies LLC Raises Holdings in Flywire Co. (NASDAQ:FLYW)

Renaissance Technologies LLC increased its stake in Flywire Co. (NASDAQ:FLYW - Free Report) by 292.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,400 shares of the company's stock after buying an additional 189,521 shares during the quarter. Renaissance Technologies LLC owned about 0.20% of Flywire worth $5,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of Flywire by 1.6% in the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company's stock worth $664,000 after acquiring an additional 513 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Flywire in the 4th quarter worth about $30,000. Harbor Capital Advisors Inc. raised its position in Flywire by 0.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company's stock worth $4,635,000 after purchasing an additional 1,531 shares during the period. Alliancebernstein L.P. lifted its stake in Flywire by 1.3% in the fourth quarter. Alliancebernstein L.P. now owns 145,705 shares of the company's stock worth $3,004,000 after purchasing an additional 1,839 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company's stock valued at $101,000 after buying an additional 1,911 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Stock Down 0.2 %

FLYW stock traded down $0.02 during trading on Friday, hitting $8.80. 448,557 shares of the company's stock traded hands, compared to its average volume of 1,710,156. The firm has a market capitalization of $1.09 billion, a P/E ratio of 58.73, a PEG 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 business has a fifty day simple moving average of $10.69 and a two-hundred day simple moving average of $16.66.

Flywire (NASDAQ:FLYW - Get Free Report) last announced 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 company had revenue of $112.80 million during the quarter, compared to analysts' expectations of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. On average, equities research analysts predict that Flywire Co. will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stephens downgraded Flywire from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Citigroup reduced their target price on Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. BTIG Research lowered shares of Flywire from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 26th. Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a research note on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Flywire currently has an average rating of "Hold" and a consensus price target of $17.00.

Insiders Place Their Bets

In other news, Director Gretchen Howard bought 8,889 shares of the stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the company's 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 approximately $2,495,414.88. The trade was 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 currently owned by corporate insiders.

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.