Bailard Inc. Takes Position in Flywire Co. (NASDAQ:FLYW)

Bailard Inc. purchased a new position in shares of Flywire Co. (NASDAQ:FLYW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,670 shares of the company’s stock, valued at approximately $386,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ellsworth Advisors LLC purchased a new position in shares of Flywire during the 3rd quarter valued at approximately $436,000. Harbor Capital Advisors Inc. increased its position in shares of Flywire by 8.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,827 shares of the company’s stock worth $600,000 after purchasing an additional 1,519 shares during the last quarter. AFG Fiduciary Services Limited Partnership increased its holdings in Flywire by 7.1% in the third quarter. AFG Fiduciary Services Limited Partnership now owns 22,020 shares of the company’s stock valued at $702,000 after buying an additional 1,455 shares during the last quarter. Raymond James & Associates increased its stake in Flywire by 118.6% during the third quarter. Raymond James & Associates now owns 235,540 shares of the company’s stock valued at $7,511,000 after purchasing an additional 127,810 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Flywire by 133.2% during the third quarter. Bank of New York Mellon Corp now owns 843,046 shares of the company’s stock worth $26,885,000 after purchasing an additional 481,467 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 4,730 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $129,129.00. Following the transaction, the general counsel now directly owns 214,678 shares in the company, valued at approximately $5,860,709.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Flywire news, CTO David R. King sold 9,366 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $255,691.80. Following the completion of the sale, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 4,730 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $129,129.00. Following the transaction, the general counsel now owns 214,678 shares in the company, valued at approximately $5,860,709.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,800 shares of company stock valued at $3,743,582. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FLYW. William Blair reaffirmed an “outperform” rating on shares of Flywire in a research report on Wednesday, February 28th. Morgan Stanley lowered Flywire from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $27.00 to $30.00 in a report on Friday, March 1st. Deutsche Bank Aktiengesellschaft started coverage on Flywire in a report on Tuesday, February 6th. They issued a “buy” rating and a $27.00 price target on the stock. Oppenheimer started coverage on Flywire in a research note on Tuesday, January 23rd. They set an “outperform” rating and a $25.00 price objective for the company. Finally, Citigroup cut their target price on Flywire from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and a consensus price target of $34.27.

Flywire Price Performance

Shares of FLYW opened at $20.79 on Monday. The business’s 50-day moving average price is $24.01 and its 200 day moving average price is $23.58. Flywire Co. has a 1-year low of $18.65 and a 1-year high of $35.80.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 27th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. The business had revenue of $100.55 million for the quarter, compared to the consensus estimate of $88.52 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. On average, equities research analysts anticipate that Flywire Co. will post 0.05 earnings per share for the current year.

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.