Trexquant Investment LP boosted its holdings in Flywire Co. (NASDAQ:FLYW – Get Rating) by 141.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,003 shares of the company’s stock after purchasing an additional 36,339 shares during the period. Trexquant Investment LP owned about 0.06% of Flywire worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in Flywire in the third quarter valued at $4,839,000. New York State Common Retirement Fund lifted its stake in Flywire by 13.1% in the third quarter. New York State Common Retirement Fund now owns 42,310 shares of the company’s stock valued at $971,000 after acquiring an additional 4,909 shares during the last quarter. Primecap Management Co. CA lifted its stake in Flywire by 15.8% in the third quarter. Primecap Management Co. CA now owns 15,750 shares of the company’s stock valued at $362,000 after acquiring an additional 2,150 shares during the last quarter. Blair William & Co. IL lifted its stake in Flywire by 12.5% in the third quarter. Blair William & Co. IL now owns 1,227,622 shares of the company’s stock valued at $28,186,000 after acquiring an additional 136,429 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Flywire in the second quarter valued at $24,759,000. Institutional investors own 79.06% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on FLYW. Truist Financial increased their price target on shares of Flywire from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 20th. Wells Fargo & Company raised their target price on shares of Flywire from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. Raymond James raised their target price on shares of Flywire from $28.00 to $33.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 4th. Wolfe Research raised their target price on shares of Flywire from $28.00 to $29.00 in a research note on Thursday, January 5th. Finally, Morgan Stanley assumed coverage on shares of Flywire in a research note on Monday, January 23rd. They set an “equal weight” rating and a $26.00 target price for the company. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flywire presently has a consensus rating of “Buy” and a consensus target price of $31.00.
Flywire Price Performance
Flywire (NASDAQ:FLYW – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. Flywire had a negative net margin of 13.88% and a negative return on equity of 8.36%. The business had revenue of $73.05 million for the quarter, compared to analyst estimates of $65.50 million. During the same period last year, the firm earned ($0.11) earnings per share. Flywire’s revenue for the quarter was up 42.1% compared to the same quarter last year. On average, analysts forecast that Flywire Co. will post -0.14 EPS for the current fiscal year.
Insider Buying and Selling at Flywire
In other Flywire news, CEO Michael Massaro sold 49,202 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $28.76, for a total value of $1,415,049.52. Following the transaction, the chief executive officer now directly owns 1,047,206 shares of the company’s stock, valued at approximately $30,117,644.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Flywire news, CEO Michael Massaro sold 49,202 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $28.76, for a total value of $1,415,049.52. Following the transaction, the chief executive officer now directly owns 1,047,206 shares of the company’s stock, valued at approximately $30,117,644.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Phillip John Riese sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $21.34, for a total transaction of $106,700.00. Following the completion of the transaction, the director now directly owns 16,354 shares in the company, valued at $348,994.36. The disclosure for this sale can be found here. Insiders have sold a total of 177,405 shares of company stock valued at $4,718,955 in the last ninety days. 37.50% of the stock is currently owned by company insiders.
Flywire Company Profile
Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.
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