Russell Investments Group Ltd. Purchases 29,710 Shares of Flywire Co. (NASDAQ:FLYW)

Russell Investments Group Ltd. grew its position in shares of Flywire Co. (NASDAQ:FLYW) by 19,292.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,864 shares of the company’s stock after purchasing an additional 29,710 shares during the period. Russell Investments Group Ltd.’s holdings in Flywire were worth $616,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLYW. Global Retirement Partners LLC bought a new stake in Flywire in the 4th quarter worth approximately $30,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Flywire in the 4th quarter valued at $48,000. KBC Group NV boosted its stake in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after purchasing an additional 1,911 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Flywire in the 4th quarter worth $104,000. Finally, World Investment Advisors LLC purchased a new position in Flywire in the 3rd quarter worth $209,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FLYW shares. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. UBS Group lowered Flywire from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Citigroup lowered their price objective on Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Wells Fargo & Company cut their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a “buy” rating to a “hold” rating and lowered their price target for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.00.

Insider Activity

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gretchen Howard bought 8,889 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, the director now owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.

Flywire Price Performance

FLYW stock opened at $8.68 on Wednesday. Flywire Co. has a 1 year low of $8.20 and a 1 year high of $23.40. The firm has a 50-day moving average of $11.13 and a 200 day moving average of $16.76. The company has a market cap of $1.07 billion, a P/E ratio of 57.87, a PEG ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $118.85 million. On average, equities research analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal 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.