Strs Ohio trimmed its stake in Flywire Co. (NASDAQ:FLYW – Get Rating) by 21.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,200 shares of the company’s stock after selling 600 shares during the quarter. Strs Ohio’s holdings in Flywire were worth $67,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alliancebernstein L.P. grew its stake in shares of Flywire by 487.6% in the 4th quarter. Alliancebernstein L.P. now owns 1,827,976 shares of the company’s stock valued at $69,573,000 after buying an additional 1,516,892 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Flywire by 25.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,663,149 shares of the company’s stock valued at $63,299,000 after acquiring an additional 338,340 shares during the period. Invesco Ltd. increased its holdings in shares of Flywire by 101.3% during the fourth quarter. Invesco Ltd. now owns 1,637,886 shares of the company’s stock valued at $62,338,000 after acquiring an additional 824,372 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Flywire during the fourth quarter worth approximately $37,603,000. Finally, Millennium Management LLC lifted its holdings in shares of Flywire by 549.6% in the 4th quarter. Millennium Management LLC now owns 733,752 shares of the company’s stock worth $27,927,000 after purchasing an additional 620,799 shares in the last quarter. 76.06% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Flywire from a “neutral” rating to a “buy” rating and raised their price objective for the company from $26.00 to $30.00 in a research note on Thursday, July 14th. Wells Fargo & Company cut their price target on Flywire from $36.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Stephens began coverage on Flywire in a research note on Thursday, June 9th. They issued an “overweight” rating and a $24.00 price objective for the company. Sumitomo Mitsui Financial Group initiated coverage on Flywire in a report on Wednesday, April 13th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Raymond James decreased their price target on Flywire from $39.00 to $33.00 in a report on Wednesday, May 11th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $36.29.
Insider Buying and Selling
Flywire Price Performance
Shares of NASDAQ FLYW opened at $22.81 on Thursday. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.45 billion, a PE ratio of -47.52 and a beta of 1.25. The stock’s 50 day moving average price is $19.03 and its 200-day moving average price is $25.34. Flywire Co. has a twelve month low of $14.56 and a twelve month high of $57.41.
Flywire (NASDAQ:FLYW – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The business had revenue of $64.55 million during the quarter, compared to analysts’ expectations of $56.83 million. Flywire had a negative return on equity of 4.11% and a negative net margin of 13.72%. The firm’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.41) EPS. On average, equities analysts anticipate that Flywire Co. will post -0.28 EPS for the current year.
Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.
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