Mirae Asset Global Investments Co. Ltd. Invests $5.37 Million in Flywire Co. (NASDAQ:FLYW)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Flywire Co. (NASDAQ:FLYWGet Rating) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 175,722 shares of the company’s stock, valued at approximately $5,373,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Flywire by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,038,684 shares of the company’s stock valued at $154,082,000 after acquiring an additional 37,622 shares during the last quarter. Alliancebernstein L.P. increased its stake in Flywire by 487.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,827,976 shares of the company’s stock valued at $69,573,000 after acquiring an additional 1,516,892 shares during the last quarter. Invesco Ltd. increased its stake in Flywire by 3.6% in the first quarter. Invesco Ltd. now owns 1,696,679 shares of the company’s stock valued at $51,884,000 after acquiring an additional 58,793 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Flywire by 25.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,663,149 shares of the company’s stock valued at $63,299,000 after acquiring an additional 338,340 shares during the last quarter. Finally, Woodline Partners LP increased its stake in Flywire by 177.4% in the first quarter. Woodline Partners LP now owns 1,056,270 shares of the company’s stock valued at $32,301,000 after acquiring an additional 675,455 shares during the last quarter. 73.30% of the stock is owned by institutional investors.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $23.91 on Friday. The firm has a market cap of $2.59 billion, a PE ratio of -68.31 and a beta of 1.68. The firm’s fifty day moving average is $24.55 and its 200-day moving average is $24.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92. Flywire Co. has a 52 week low of $14.56 and a 52 week high of $57.41.

Flywire (NASDAQ:FLYWGet Rating) last released its earnings results on Tuesday, August 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The firm had revenue of $56.40 million during the quarter, compared to analyst estimates of $47.61 million. Flywire had a negative net margin of 14.98% and a negative return on equity of 7.37%. Flywire’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) EPS. Sell-side analysts predict that Flywire Co. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Flywire to $32.00 in a research note on Monday, August 15th. Wells Fargo & Company boosted their target price on shares of Flywire from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, September 8th. Truist Financial assumed coverage on shares of Flywire in a research note on Thursday. They set a “buy” rating on the stock. Finally, Stephens initiated coverage on shares of Flywire in a research note on Thursday, June 9th. They set an “overweight” rating and a $24.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Flywire has a consensus rating of “Buy” and a consensus price target of $36.86.

Insider Activity at Flywire

In other Flywire news, CEO Michael Massaro sold 110,458 shares of Flywire stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $27.97, for a total value of $3,089,510.26. Following the completion of the sale, the chief executive officer now directly owns 1,149,882 shares of the company’s stock, valued at $32,162,199.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Phillip John Riese sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $23.06, for a total transaction of $115,300.00. Following the completion of the sale, the director now directly owns 16,354 shares of the company’s stock, valued at $377,123.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Massaro sold 110,458 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $27.97, for a total transaction of $3,089,510.26. Following the sale, the chief executive officer now directly owns 1,149,882 shares of the company’s stock, valued at $32,162,199.54. The disclosure for this sale can be found here. Insiders have sold a total of 2,609,623 shares of company stock worth $67,158,579 over the last quarter. Company insiders own 37.50% of the company’s stock.

About Flywire

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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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Institutional Ownership by Quarter for Flywire (NASDAQ:FLYW)

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