Franklin Resources Inc. Boosts Holdings in Flywire Co. (NASDAQ:FLYW)

Franklin Resources Inc. raised its stake in shares of Flywire Co. (NASDAQ:FLYW) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,966,179 shares of the company’s stock after buying an additional 21,818 shares during the period. Franklin Resources Inc. owned about 1.58% of Flywire worth $40,543,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Arizona State Retirement System raised its position in Flywire by 1.6% during the fourth quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock valued at $664,000 after acquiring an additional 513 shares in the last quarter. Bullseye Asset Management LLC increased its holdings in shares of Flywire by 0.7% during the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock valued at $2,407,000 after purchasing an additional 1,000 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Flywire by 12.3% in the 3rd quarter. Captrust Financial Advisors now owns 13,377 shares of the company’s stock valued at $219,000 after purchasing an additional 1,463 shares during the period. Global Retirement Partners LLC purchased a new stake in Flywire during the fourth quarter worth $30,000. Finally, Harbor Capital Advisors Inc. grew its position in Flywire by 0.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company’s stock valued at $4,635,000 after buying an additional 1,531 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Activity

In other Flywire news, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the acquisition, the director now owns 30,770 shares in the company, valued at $336,623.80. This trade represents a 40.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction dated 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 sale, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FLYW shares. Wells Fargo & Company lowered their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price target on Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock 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 report on Tuesday, January 14th. Stephens cut Flywire from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Finally, BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Flywire has a consensus rating of “Hold” and an average target price of $17.92.

Flywire Stock Down 2.0 %

NASDAQ FLYW opened at $9.10 on Friday. The business’s fifty day simple moving average is $14.24 and its 200-day simple moving average is $17.52. The firm has a market cap of $1.12 billion, a PE ratio of 60.67, a P/E/G ratio of 1.41 and a beta of 1.17. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $23.90.

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

Flywire 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.