Y Intercept Hong Kong Ltd Purchases New Shares in Flywire Co. (NASDAQ:FLYW)

Y Intercept Hong Kong Ltd acquired a new position in Flywire Co. (NASDAQ:FLYW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,564 shares of the company’s stock, valued at approximately $353,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jennison Associates LLC grew its holdings in Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after acquiring an additional 112,218 shares during the last quarter. Curi RMB Capital LLC acquired a new position in Flywire during the 3rd quarter worth $1,143,000. FMR LLC raised its position in shares of Flywire by 3.6% during the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after acquiring an additional 326,120 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Flywire by 19.3% during the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after acquiring an additional 1,006,516 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new position in shares of Flywire during the second quarter valued at $734,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Stock Performance

NASDAQ FLYW opened at $21.49 on Wednesday. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 143.27, a PEG ratio of 3.10 and a beta of 1.08. The business has a 50 day simple moving average of $19.89 and a 200 day simple moving average of $18.11. Flywire Co. has a 52-week low of $15.19 and a 52-week high of $31.54.

Analysts Set New Price Targets

Several brokerages have weighed in on FLYW. Deutsche Bank Aktiengesellschaft boosted their price objective on Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. boosted their price target on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley lifted their target price on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company downgraded Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $18.00 in a research note on Friday, October 11th. Finally, The Goldman Sachs Group raised their price target on Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.29.

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.