Rhumbline Advisers Buys 3,732 Shares of Flywire Corporation (NASDAQ:FLYW)

Rhumbline Advisers raised its position in shares of Flywire Corporation (NASDAQ:FLYW) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 169,553 shares of the company’s stock after purchasing an additional 3,732 shares during the quarter. Rhumbline Advisers owned 0.14% of Flywire worth $1,611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after purchasing an additional 781,711 shares during the period. Geode Capital Management LLC boosted its stake in shares of Flywire by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock worth $58,335,000 after acquiring an additional 28,944 shares during the period. Wasatch Advisors LP grew its position in shares of Flywire by 62.1% during the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock worth $56,533,000 after purchasing an additional 1,049,888 shares in the last quarter. Franklin Resources Inc. raised its stake in 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 purchasing an additional 21,818 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Flywire during the 4th quarter valued at approximately $35,579,000. Institutional investors own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FLYW shares. Truist Financial started coverage on shares of Flywire in a report on Monday, June 2nd. They set a “buy” rating and a $12.00 price objective for the company. Raymond James Financial cut shares of Flywire from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Wolfe Research reiterated a “peer perform” rating on shares of Flywire in a research note on Wednesday, April 23rd. UBS Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $15.00 in a report on Wednesday, February 26th. Finally, Morgan Stanley reduced their target price on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.15.

Flywire Trading Down 0.3%

FLYW opened at $10.79 on Wednesday. The stock has a 50-day moving average of $10.12 and a 200 day moving average of $14.31. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.08. Flywire Corporation has a 12 month low of $8.20 and a 12 month high of $23.40. The firm has a market cap of $1.31 billion, a P/E ratio of 269.75, a P/E/G ratio of 1.51 and a beta of 1.27.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $128.70 million during the quarter, compared to analyst estimates of $124.18 million. Flywire had a return on equity of 1.57% and a net margin of 0.97%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the company earned ($0.05) EPS. As a group, research analysts forecast that Flywire Corporation will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other news, Director Edwin J. Santos sold 5,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $10.50, for a total value of $52,500.00. Following the sale, the director now directly owns 16,990 shares in the company, valued at approximately $178,395. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by insiders.

Flywire 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.