State of New Jersey Common Pension Fund D Has $2.57 Million Position in Flywire Co. (NASDAQ:FLYW)

State of New Jersey Common Pension Fund D raised its stake in Flywire Co. (NASDAQ:FLYW) by 49.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 110,779 shares of the company’s stock after buying an additional 36,753 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Flywire were worth $2,565,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. William Blair Investment Management LLC acquired a new stake in shares of Flywire during the 3rd quarter worth approximately $100,341,000. Vanguard Group Inc. boosted its holdings in shares of Flywire by 13.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,517,763 shares of the company’s stock valued at $335,411,000 after purchasing an additional 1,278,646 shares in the last quarter. FMR LLC increased its stake in shares of Flywire by 56.7% in the 3rd quarter. FMR LLC now owns 2,804,218 shares of the company’s stock valued at $89,427,000 after purchasing an additional 1,014,757 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Flywire by 4,619.3% during the 4th quarter. Jennison Associates LLC now owns 810,027 shares of the company’s stock worth $18,752,000 after buying an additional 792,863 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Flywire by 112.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,330,360 shares of the company’s stock worth $42,425,000 after buying an additional 704,938 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

Flywire Stock Performance

Flywire stock opened at $20.40 on Thursday. Flywire Co. has a 52-week low of $18.65 and a 52-week high of $35.80. The firm has a 50 day moving average price of $23.92 and a two-hundred day moving average price of $23.47. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -226.67, a PEG ratio of 7.77 and a beta of 1.02.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business had revenue of $100.55 million for the quarter, compared to analysts’ expectations of $88.52 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. As a group, equities research analysts predict that Flywire Co. will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Flywire news, CEO Michael Massaro sold 13,043 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the transaction, the chief executive officer now directly owns 1,655,673 shares of the company’s stock, valued at $39,852,049.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Michael Massaro sold 13,043 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the transaction, the chief executive officer now owns 1,655,673 shares in the company, valued at approximately $39,852,049.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Phillip John Riese sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the completion of the sale, the director now owns 232,037 shares of the company’s stock, valued at $6,128,097.17. The disclosure for this sale can be found here. Insiders sold 141,800 shares of company stock valued at $3,743,582 over the last 90 days. Company insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on FLYW shares. Deutsche Bank Aktiengesellschaft assumed coverage on Flywire in a research note on Tuesday, February 6th. They set a “buy” rating and a $27.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Flywire from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. increased their price target on Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Royal Bank of Canada boosted their price objective on Flywire from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, William Blair reiterated an “outperform” rating on shares of Flywire in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.27.

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.