Gretchen Howard Purchases 8,889 Shares of Flywire Co. (NASDAQ:FLYW) Stock

Flywire Co. (NASDAQ:FLYW) Director Gretchen Howard bought 8,889 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, the director now directly owns 30,770 shares of the company’s stock, valued at $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Flywire Stock Down 5.6 %

Shares of FLYW opened at $10.76 on Tuesday. The business’s 50 day moving average price is $18.85 and its 200-day moving average price is $18.79. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $28.24. The stock has a market cap of $1.34 billion, a P/E ratio of 71.73, a P/E/G ratio of 1.41 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. On average, equities analysts anticipate that Flywire Co. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

FLYW has been the topic of several recent analyst reports. Stephens cut Flywire from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. Raymond James cut Flywire from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. Citigroup cut their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.23.

Hedge Funds Weigh In On Flywire

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Flywire by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after acquiring an additional 17,062 shares during the last quarter. Versor Investments LP purchased a new position in Flywire in the 4th quarter worth approximately $1,118,000. Jennison Associates LLC raised its stake in Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after buying an additional 112,218 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Flywire by 345.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock valued at $1,980,000 after buying an additional 74,465 shares during the last quarter. Finally, Curi RMB Capital LLC purchased a new stake in Flywire during the 3rd quarter valued at $1,143,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.