Insider Buying: Flywire Co. (NASDAQ:FLYW) Director Purchases 8,889 Shares of Stock

Flywire Co. (NASDAQ:FLYW) Director Gretchen Howard acquired 8,889 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the acquisition, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Flywire Trading Down 5.6 %

NASDAQ:FLYW traded down $0.64 during trading hours on Monday, hitting $10.76. 3,560,443 shares of the stock traded hands, compared to its average volume of 2,394,273. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 71.73, a PEG ratio of 1.41 and a beta of 1.08. The firm has a 50 day moving average price of $18.85 and a 200 day moving average price of $18.79. Flywire Co. has a fifty-two week low of $8.62 and a fifty-two week high of $28.24.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Research analysts predict that Flywire Co. will post 0.14 EPS for the current year.

Institutional Trading of Flywire

A number of institutional investors have recently added to or reduced their stakes in the business. Ascent Group LLC increased its stake in shares of Flywire by 19.7% during the 4th quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock worth $695,000 after purchasing an additional 5,545 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Flywire by 72.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock worth $2,944,000 after purchasing an additional 60,210 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Flywire in the fourth quarter worth $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Flywire by 16.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,356 shares of the company’s stock worth $14,668,000 after buying an additional 101,431 shares during the last quarter. Finally, Vident Advisory LLC bought a new position in Flywire during the fourth quarter valued at about $235,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FLYW. Citigroup decreased their price target on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Stephens cut shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Seaport Res Ptn downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. 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. Finally, Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.23.

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.