Flywire Co. (NASDAQ:FLYW) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its stake in Flywire Co. (NASDAQ:FLYWGet Rating) by 170.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,332 shares of the company’s stock after buying an additional 839 shares during the period. Assetmark Inc.’s holdings in Flywire were worth $31,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of FLYW. Nisa Investment Advisors LLC lifted its stake in Flywire by 226.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $37,000 after buying an additional 1,450 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Flywire by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 61,323 shares of the company’s stock valued at $1,081,000 after acquiring an additional 1,680 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Flywire by 27.4% in the first quarter. PNC Financial Services Group Inc. now owns 10,142 shares of the company’s stock worth $309,000 after buying an additional 2,182 shares during the period. UBS Group AG boosted its position in Flywire by 433.1% during the 1st quarter. UBS Group AG now owns 3,300 shares of the company’s stock worth $101,000 after acquiring an additional 2,681 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Flywire by 5.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 54,823 shares of the company’s stock worth $967,000 after purchasing an additional 2,970 shares during the period. Institutional investors and hedge funds own 79.06% of the company’s stock.

Flywire Stock Up 6.1 %

Shares of NASDAQ:FLYW opened at $26.28 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.44 and a current ratio of 3.44. The company has a market capitalization of $2.85 billion, a PE ratio of -55.91 and a beta of 1.02. Flywire Co. has a 52 week low of $14.56 and a 52 week high of $32.88. The company’s fifty day moving average is $22.77 and its 200-day moving average is $23.02.

Flywire (NASDAQ:FLYWGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.10). Flywire had a negative return on equity of 10.43% and a negative net margin of 18.85%. The company had revenue of $88.90 million during the quarter, compared to the consensus estimate of $86.94 million. Equities research analysts predict that Flywire Co. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Enrique T. Salem sold 96,136 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $20.51, for a total transaction of $1,971,749.36. Following the completion of the sale, the insider now directly owns 11,645,388 shares of the company’s stock, valued at approximately $238,846,907.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Flywire news, major shareholder Enrique T. Salem sold 96,136 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $20.51, for a total transaction of $1,971,749.36. Following the transaction, the insider now owns 11,645,388 shares of the company’s stock, valued at approximately $238,846,907.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Massaro sold 4,166 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $25.20, for a total transaction of $104,983.20. Following the completion of the sale, the chief executive officer now directly owns 1,100,574 shares in the company, valued at $27,734,464.80. The disclosure for this sale can be found here. Insiders have sold 1,896,291 shares of company stock valued at $40,980,670 in the last 90 days. 37.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FLYW shares. Wolfe Research boosted their price target on Flywire from $28.00 to $29.00 in a research note on Thursday, January 5th. Stephens cut their target price on shares of Flywire from $30.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, November 9th. Wells Fargo & Company raised their price target on Flywire from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Truist Financial boosted their price objective on Flywire from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James raised their target price on Flywire from $28.00 to $33.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 4th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flywire has an average rating of “Buy” and an average target price of $32.22.

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.

Further Reading

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Institutional Ownership by Quarter for Flywire (NASDAQ:FLYW)

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