Flywire Co. (NASDAQ:FLYW) Stake Boosted by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC grew its stake in shares of Flywire Co. (NASDAQ:FLYWFree Report) by 17.3% in the 2nd quarter, Holdings Channel reports. The firm owned 934,325 shares of the company’s stock after acquiring an additional 137,805 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Flywire were worth $29,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Fred Alger Management LLC grew its holdings in Flywire by 438.7% in the 1st quarter. Fred Alger Management LLC now owns 2,456,799 shares of the company’s stock worth $72,132,000 after buying an additional 2,000,717 shares in the last quarter. Vanguard Group Inc. grew its holdings in Flywire by 29.0% in the 3rd quarter. Vanguard Group Inc. now owns 7,281,361 shares of the company’s stock worth $167,179,000 after buying an additional 1,635,222 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Flywire by 2,255.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,353,373 shares of the company’s stock worth $33,117,000 after buying an additional 1,295,916 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in Flywire by 404.8% in the 1st quarter. First Republic Investment Management Inc. now owns 926,659 shares of the company’s stock worth $27,207,000 after buying an additional 743,072 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Flywire by 34.2% in the 4th quarter. Millennium Management LLC now owns 2,566,268 shares of the company’s stock worth $62,797,000 after buying an additional 653,610 shares in the last quarter. 92.55% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Michael Massaro sold 11,457 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $29.00, for a total value of $332,253.00. Following the completion of the sale, the chief executive officer now owns 966,398 shares in the company, valued at $28,025,542. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Massaro sold 11,457 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $29.00, for a total value of $332,253.00. Following the completion of the sale, the chief executive officer now owns 966,398 shares in the company, valued at $28,025,542. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 11,232 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $31.04, for a total value of $348,641.28. Following the completion of the sale, the general counsel now owns 109,521 shares of the company’s stock, valued at approximately $3,399,531.84. The disclosure for this sale can be found here. Insiders sold 171,249 shares of company stock worth $5,171,355 over the last quarter. Corporate insiders own 5.00% of the company’s stock.

Flywire Trading Up 1.5 %

Shares of NASDAQ:FLYW opened at $19.89 on Friday. Flywire Co. has a one year low of $18.65 and a one year high of $35.80. The stock has a fifty day moving average of $29.30 and a 200-day moving average of $30.55.

Flywire (NASDAQ:FLYWGet Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Flywire had a negative net margin of 2.92% and a negative return on equity of 1.96%. The company had revenue of $123.32 million for the quarter, compared to analyst estimates of $119.50 million. During the same quarter last year, the company posted ($0.04) EPS. Flywire’s revenue was up 29.5% on a year-over-year basis. As a group, equities research analysts anticipate that Flywire Co. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FLYW shares. Truist Financial decreased their price objective on Flywire from $40.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. BTIG Research initiated coverage on Flywire in a research report on Thursday, September 28th. They issued a “buy” rating and a $37.00 target price for the company. William Blair restated an “outperform” rating on shares of Flywire in a research report on Wednesday. Citigroup upped their target price on Flywire from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, JPMorgan Chase & Co. cut their target price on Flywire from $35.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $34.79.

View Our Latest Report on FLYW

About Flywire

(Free Report)

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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.

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Institutional Ownership by Quarter for Flywire (NASDAQ:FLYW)

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