Cetera Investment Advisers Acquires New Position in Flywire Co. (NASDAQ:FLYW)

Cetera Investment Advisers acquired a new stake in shares of Flywire Co. (NASDAQ:FLYW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 10,896 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after acquiring an additional 781,711 shares during the period. Jennison Associates LLC grew its stake in shares of Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after acquiring an additional 1,179,562 shares during the period. Geode Capital Management LLC grew its stake in shares of Flywire by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock valued at $58,335,000 after acquiring an additional 28,944 shares during the period. Wasatch Advisors LP grew its stake in shares of Flywire by 62.1% during the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock valued at $56,533,000 after acquiring an additional 1,049,888 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Flywire by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 1,966,179 shares of the company’s stock valued at $40,543,000 after acquiring an additional 21,818 shares during the period. 95.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on FLYW. Morgan Stanley lowered their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Raymond James cut Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. Stephens cut Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price target on Flywire from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Flywire presently has an average rating of “Hold” and an average target price of $15.42.

Flywire Stock Performance

NASDAQ FLYW opened at $10.80 on Monday. The company has a market cap of $1.31 billion, a P/E ratio of 72.00, a P/E/G ratio of 1.41 and a beta of 1.22. The business’s 50 day moving average price is $9.84 and its 200-day moving average price is $15.27. Flywire Co. has a fifty-two week low of $8.20 and a fifty-two week high of $23.40.

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

Insider Activity

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares of the company’s stock, valued at $2,495,414.88. This represents a 2.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

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.