Man Group plc Invests $350,000 in Flywire Co. (NASDAQ:FLYW)

Man Group plc purchased a new position in shares of Flywire Co. (NASDAQ:FLYW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,978 shares of the company’s stock, valued at approximately $350,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLYW. Barclays PLC grew its position in Flywire by 361.4% during the third quarter. Barclays PLC now owns 197,493 shares of the company’s stock worth $3,236,000 after buying an additional 154,694 shares during the period. SG Americas Securities LLC grew its position in Flywire by 337.1% during the fourth quarter. SG Americas Securities LLC now owns 39,709 shares of the company’s stock worth $819,000 after buying an additional 30,625 shares during the period. Janney Montgomery Scott LLC acquired a new position in Flywire during the fourth quarter worth about $239,000. KBC Group NV grew its position in Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after buying an additional 1,911 shares during the period. Finally, Highland Capital Management LLC acquired a new position in Flywire during the fourth quarter worth about $221,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Flywire

In related news, Director Gretchen Howard purchased 8,889 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the acquisition, the director now directly owns 30,770 shares in the company, valued at $336,623.80. This trade represents a 40.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction on Monday, March 10th. The shares were 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. This trade represents a 2.18% decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

Flywire Stock Performance

Shares of NASDAQ FLYW opened at $11.03 on Tuesday. Flywire Co. has a 1 year low of $8.20 and a 1 year high of $23.40. The firm’s 50 day moving average price is $9.80 and its 200 day moving average price is $15.60. The firm has a market cap of $1.34 billion, a P/E ratio of 73.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $128.70 million for the quarter, compared to analyst estimates of $124.18 million. During the same quarter last year, the business earned ($0.05) earnings per share. Flywire’s revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts predict that Flywire Co. will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup lowered their target price on shares of Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. The Goldman Sachs Group upped their target price on shares of Flywire from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. Morgan Stanley lowered their price target on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Flywire currently has an average rating of “Hold” and an average price target of $15.42.

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.