Sompo Asset Management Co. Ltd. Raises Holdings in Flywire Co. (NASDAQ:FLYW)

Sompo Asset Management Co. Ltd. lifted its holdings in Flywire Co. (NASDAQ:FLYW) by 8.0% during the third quarter, Holdings Channel reports. The institutional investor owned 34,060 shares of the company’s stock after purchasing an additional 2,510 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Flywire were worth $558,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Quarry LP acquired a new stake in Flywire in the second quarter valued at $26,000. Headlands Technologies LLC increased its holdings in shares of Flywire by 82.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after purchasing an additional 1,509 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Flywire in the second quarter valued at about $64,000. Advisors Asset Management Inc. boosted its holdings in Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after buying an additional 539 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Flywire during the third quarter worth about $149,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Citigroup cut their price target on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada lowered their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.86.

Insider Transactions at Flywire

In other news, COO Rob Orgel sold 3,824 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $66,193.44. Following the transaction, the chief operating officer now owns 473,648 shares of the company’s stock, valued at approximately $8,198,846.88. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Massaro sold 8,629 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the sale, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at approximately $31,377,892.04. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock worth $480,143 in the last ninety days. Insiders own 3.90% of the company’s stock.

Flywire Stock Down 0.0 %

NASDAQ:FLYW opened at $22.92 on Monday. The company has a market cap of $2.85 billion, a P/E ratio of 152.80, a P/E/G ratio of 4.42 and a beta of 0.95. The firm’s 50 day moving average is $18.12 and its two-hundred day moving average is $17.59. Flywire Co. has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

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.