Wasatch Advisors LP Acquires 1,049,888 Shares of Flywire Co. (NASDAQ:FLYW)

Wasatch Advisors LP boosted its holdings in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 62.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,741,644 shares of the company's stock after purchasing an additional 1,049,888 shares during the period. Wasatch Advisors LP owned approximately 2.20% of Flywire worth $56,533,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in 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 buying an additional 17,062 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Flywire in the fourth quarter valued at $1,118,000. Y Intercept Hong Kong Ltd lifted its holdings 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 worth $1,980,000 after acquiring an additional 74,465 shares during the period. Sei Investments Co. boosted its holdings in shares of Flywire by 38.4% in the 4th 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 last quarter. Finally, Vanguard Group Inc. grew 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 valued at $249,238,000 after acquiring an additional 781,711 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FLYW. Stephens cut shares of Flywire from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Seaport Res Ptn lowered Flywire from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Citigroup decreased their price objective on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a report on Monday, March 24th. BTIG Research cut shares of Flywire from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 26th. Finally, Raymond James cut Flywire from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. One equities research 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. Based on data from MarketBeat, Flywire presently has an average rating of "Hold" and an average price target of $17.00.

Flywire Stock Performance

Shares of NASDAQ:FLYW traded down $0.32 during mid-day trading on Monday, reaching $8.56. 354,595 shares of the company's stock were exchanged, compared to its average volume of 1,675,990. 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 $1.06 billion, a price-to-earnings ratio of 57.07, a PEG ratio of 1.41 and a beta of 1.22. The business's fifty day moving average price is $11.58 and its 200-day moving average price is $16.88.

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

Insider Buying and Selling

In related news, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction on Thursday, February 27th. The stock was acquired at an average price 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. This represents a 40.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares in the company, valued at $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 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.