Bryce Point Capital LLC Purchases New Holdings in Flywire Co. (NASDAQ:FLYW)

Bryce Point Capital LLC acquired a new position in shares of Flywire Co. (NASDAQ:FLYW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 26,118 shares of the company’s stock, valued at approximately $539,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position 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 worth $249,238,000 after acquiring an additional 781,711 shares in the last quarter. Jennison Associates LLC lifted its stake in Flywire by 53.0% during the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after purchasing an additional 1,179,562 shares during the last quarter. State Street Corp boosted its holdings in shares of Flywire by 5.2% in the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after purchasing an additional 145,894 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Flywire by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock valued at $58,335,000 after purchasing an additional 28,944 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings 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 worth $40,543,000 after buying an additional 21,818 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Trading Down 5.5 %

Shares of FLYW opened at $9.29 on Friday. The firm’s fifty day simple moving average is $14.44 and its two-hundred day simple moving average is $17.58. Flywire Co. has a 12 month low of $8.62 and a 12 month high of $24.33. The stock has a market capitalization of $1.15 billion, a P/E ratio of 61.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 25th. The company reported ($0.12) 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 business had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. As a group, research analysts predict that Flywire Co. will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gretchen Howard bought 8,889 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the transaction, the director now directly owns 30,770 shares of the company’s stock, valued at $336,623.80. This trade represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is owned by insiders.

Analysts Set New Price Targets

FLYW has been the topic of a number of recent analyst reports. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Citigroup reduced their price target on shares of Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Morgan Stanley lowered their price objective on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $16.00 in a research report on Wednesday, February 26th. Finally, Seaport Res Ptn downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Flywire currently has a consensus rating of “Hold” and a consensus target price of $17.92.

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.