Mirae Asset Global Investments Co. Ltd. Invests $5.37 Million in Flywire Co. (NASDAQ:FLYW)

Mirae Asset Global Investments Co. Ltd. bought a new position in Flywire Co. (NASDAQ:FLYWGet Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 175,722 shares of the company’s stock, valued at approximately $5,373,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.16% of Flywire at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FLYW. Alliancebernstein L.P. boosted its holdings 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 worth $69,573,000 after acquiring an additional 1,516,892 shares in the last quarter. Marshall Wace LLP acquired a new position in Flywire during the 4th quarter worth $37,603,000. Invesco Ltd. lifted its holdings in Flywire by 101.3% during the 4th quarter. Invesco Ltd. now owns 1,637,886 shares of the company’s stock worth $62,338,000 after buying an additional 824,372 shares in the last quarter. Woodline Partners LP lifted its holdings in Flywire by 177.4% during the 1st quarter. Woodline Partners LP now owns 1,056,270 shares of the company’s stock worth $32,301,000 after buying an additional 675,455 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Flywire during the 1st quarter worth $19,279,000. 73.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Flywire

In other Flywire news, major shareholder Bain Capital Venture Investors sold 1,653,986 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $25.35, for a total transaction of $41,928,545.10. Following the completion of the transaction, the insider now owns 13,645,388 shares in the company, valued at approximately $345,910,585.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Flywire news, CEO Michael Massaro sold 4,830 shares of the stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $24.25, for a total transaction of $117,127.50. Following the completion of the transaction, the chief executive officer now owns 1,119,690 shares in the company, valued at approximately $27,152,482.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Bain Capital Venture Investors sold 1,653,986 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $25.35, for a total value of $41,928,545.10. Following the transaction, the insider now owns 13,645,388 shares of the company’s stock, valued at approximately $345,910,585.80. The disclosure for this sale can be found here. Insiders sold a total of 2,609,623 shares of company stock worth $67,158,579 in the last quarter. Corporate insiders own 37.50% of the company’s stock.

Flywire Price Performance

FLYW opened at $23.91 on Friday. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. Flywire Co. has a 12 month low of $14.56 and a 12 month high of $57.41. The company has a fifty day simple moving average of $24.55 and a 200 day simple moving average of $24.00. The stock has a market cap of $2.59 billion, a P/E ratio of -68.31 and a beta of 1.68.

Flywire (NASDAQ:FLYWGet Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). Flywire had a negative net margin of 14.98% and a negative return on equity of 7.37%. The firm had revenue of $56.40 million during the quarter, compared to the consensus estimate of $47.61 million. During the same quarter in the prior year, the company earned ($0.16) EPS. Flywire’s quarterly revenue was up 52.4% on a year-over-year basis. On average, research analysts expect that Flywire Co. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

FLYW has been the topic of several research reports. Stephens initiated coverage on Flywire in a report on Thursday, June 9th. They set an “overweight” rating and a $24.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Flywire to $32.00 in a report on Monday, August 15th. Truist Financial initiated coverage on Flywire in a research note on Thursday. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company increased their price target on Flywire from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, September 8th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Flywire has a consensus rating of “Buy” and an average price target of $36.86.

Flywire Profile

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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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Institutional Ownership by Quarter for Flywire (NASDAQ:FLYW)

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