Intech Investment Management LLC Raises Holdings in Flywire Co. (NASDAQ:FLYW)

Intech Investment Management LLC lifted its holdings in Flywire Co. (NASDAQ:FLYW) by 48.3% in the 4th quarter, Holdings Channel reports. The firm owned 47,905 shares of the company’s stock after acquiring an additional 15,604 shares during the period. Intech Investment Management LLC’s holdings in Flywire were worth $988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLYW. Global Retirement Partners LLC purchased a new position in Flywire in the 4th quarter worth about $30,000. Arcadia Investment Management Corp MI purchased a new position in shares of Flywire during the fourth quarter valued at approximately $48,000. Advisors Asset Management Inc. raised its holdings in shares of Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares during the last quarter. KBC Group NV raised its holdings 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 purchasing an additional 1,911 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Flywire during the fourth quarter valued at approximately $104,000. 95.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gretchen Howard acquired 8,889 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired 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 of the company’s stock, valued at $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on FLYW shares. Royal Bank of Canada decreased their price objective on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Raymond James cut shares of Flywire from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $29.00 to $17.00 in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and decreased their price objective for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.23.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $9.96 on Friday. The firm has a fifty day moving average price of $16.18 and a 200 day moving average price of $18.07. Flywire Co. has a fifty-two week low of $8.62 and a fifty-two week high of $25.27. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 66.40, a P/E/G ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) 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 business had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. As a group, research analysts predict that Flywire Co. will post 0.14 earnings per share for the current year.

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.