Eagle Asset Management Inc. Grows Stock Position in Flywire Co. (NASDAQ:FLYW)

Eagle Asset Management Inc. increased its position in shares of Flywire Co. (NASDAQ:FLYW) by 7.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 911,363 shares of the company’s stock after purchasing an additional 65,625 shares during the quarter. Eagle Asset Management Inc.’s holdings in Flywire were worth $14,937,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Flywire by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after buying an additional 100,704 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Flywire by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after acquiring an additional 954 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Flywire in the 1st quarter worth approximately $358,000. Ascent Group LLC boosted its holdings in shares of Flywire by 10.1% during the 1st quarter. Ascent Group LLC now owns 14,165 shares of the company’s stock worth $351,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of Flywire by 28.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 369,659 shares of the company’s stock valued at $9,171,000 after purchasing an additional 82,008 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Flywire news, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $66,193.44. Following the completion of the transaction, the chief operating officer now owns 473,648 shares in the company, valued at $8,198,846.88. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Massaro sold 8,629 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $155,667.16. Following the completion of the sale, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock worth $480,143 over the last 90 days. 3.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FLYW. Citigroup dropped their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley lifted their target price on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft lowered their price target on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company downgraded Flywire from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.86.

Flywire Stock Performance

NASDAQ:FLYW opened at $22.92 on Friday. Flywire Co. has a 1 year low of $15.19 and a 1 year high of $31.54. The stock has a market cap of $2.85 billion, a P/E ratio of 152.80, a P/E/G ratio of 4.42 and a beta of 0.95. The stock has a 50-day simple moving average of $18.12 and a 200-day simple moving average of $17.58.

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.