Flywire Co. (NASDAQ:FLYW) Director Purchases $97,245.66 in Stock

Flywire Co. (NASDAQ:FLYW) Director Gretchen Howard purchased 8,889 shares of Flywire stock in a transaction that occurred 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 transaction, the director now owns 30,770 shares in the company, valued at $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Flywire Stock Down 1.1 %

Shares of FLYW opened at $10.64 on Wednesday. The company has a 50-day simple moving average of $18.66 and a 200-day simple moving average of $18.74. The company has a market capitalization of $1.32 billion, a PE ratio of 70.93, a P/E/G ratio of 1.41 and a beta of 1.08. Flywire Co. has a 52-week low of $8.62 and a 52-week high of $27.40.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. On average, research analysts anticipate that Flywire Co. will post 0.14 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on FLYW. Wells Fargo & Company reduced their price target on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report 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. The Goldman Sachs Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and reduced their price target for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and reduced their price target for the company from $26.00 to $16.00 in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.23.

Hedge Funds Weigh In On Flywire

Large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in shares of Flywire in the 4th quarter valued at about $30,000. Arcadia Investment Management Corp MI acquired a new stake in Flywire in the 4th quarter valued at about $48,000. Advisors Asset Management Inc. grew its stake in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Flywire in the 4th quarter valued at about $77,000. Finally, KBC Group NV grew its stake in Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after acquiring an additional 1,911 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.