T. Rowe Price Investment Management Inc. Takes $18.43 Million Position in Flywire Co. (NASDAQ:FLYW)

T. Rowe Price Investment Management Inc. bought a new position in shares of Flywire Co. (NASDAQ:FLYW - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 893,954 shares of the company's stock, valued at approximately $18,434,000. T. Rowe Price Investment Management Inc. owned approximately 0.72% of Flywire as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FLYW. Arizona State Retirement System raised its position in shares of Flywire by 1.6% during the fourth 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. Summit Investment Advisors Inc. grew its position in shares of Flywire by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company's stock worth $261,000 after buying an additional 802 shares during the period. Global Retirement Partners LLC acquired a new position in Flywire in the fourth quarter valued at approximately $30,000. Harbor Capital Advisors Inc. boosted its stake in Flywire by 0.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company's stock valued at $4,635,000 after acquiring an additional 1,531 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Flywire by 1.3% during the 4th quarter. Alliancebernstein L.P. now owns 145,705 shares of the company's stock worth $3,004,000 after acquiring an additional 1,839 shares during the period. 95.90% of the stock is owned by institutional investors.

Flywire Stock Performance

Shares of NASDAQ:FLYW remained flat at $9.57 during midday trading on Friday. The company had a trading volume of 1,421,683 shares, compared to its average volume of 1,742,680. Flywire Co. has a twelve month low of $8.20 and a twelve month high of $23.40. The firm has a market capitalization of $1.18 billion, a PE ratio of 63.80, a PEG ratio of 1.41 and a beta of 1.22. The company's fifty day moving average is $9.77 and its 200 day moving average is $16.41.

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 analysts' consensus estimates of ($0.01) by ($0.11). The company had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. On average, analysts expect that Flywire Co. will post 0.14 earnings per share for the current year.

Insider Transactions at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction dated 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 of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction that occurred on Thursday, February 27th. The shares were bought 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 in the company, valued at $336,623.80. This trade represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FLYW has been the subject of a number of analyst reports. B. Riley reaffirmed a "buy" rating and set a $17.00 price objective (down from $29.00) on shares of Flywire in a research note on Friday. BTIG Research lowered shares of Flywire from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a "buy" rating to a "hold" rating and lowered their target price for the company from $26.00 to $16.00 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $9.00 price objective (down previously from $16.00) on shares of Flywire in a research report on Monday, April 14th. Finally, Raymond James lowered Flywire from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $29.00 to $17.00 in a 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.00.

Flywire Company 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.