Nuveen Asset Management LLC Purchases 712,843 Shares of Flywire Co. (NASDAQ:FLYW)

Nuveen Asset Management LLC raised its position in Flywire Co. (NASDAQ:FLYW) by 79.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,610,136 shares of the company’s stock after buying an additional 712,843 shares during the quarter. Nuveen Asset Management LLC’s holdings in Flywire were worth $33,201,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FLYW. Barclays PLC increased its holdings in Flywire by 361.4% in the 3rd quarter. Barclays PLC now owns 197,493 shares of the company’s stock valued at $3,236,000 after buying an additional 154,694 shares during the period. SG Americas Securities LLC increased its stake in shares of Flywire by 337.1% in the 4th quarter. SG Americas Securities LLC now owns 39,709 shares of the company’s stock valued at $819,000 after purchasing an additional 30,625 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Flywire in the 4th quarter valued at $239,000. KBC Group NV increased its stake in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after purchasing an additional 1,911 shares during the last quarter. Finally, Highland Capital Management LLC bought a new position in shares of Flywire in the 4th quarter valued at $221,000. 95.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FLYW shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $9.00 price target (down previously from $16.00) on shares of Flywire in a research note on Monday, April 14th. BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on shares of Flywire from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Wells Fargo & Company decreased their price target on shares of Flywire from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Finally, B. Riley reaffirmed a “buy” rating and set a $17.00 price target (down from $29.00) on shares of Flywire in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Flywire presently has an average rating of “Hold” and an average price target of $15.62.

Insider Activity

In related news, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. This represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gretchen Howard bought 8,889 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the transaction, the director now owns 30,770 shares in the company, valued at $336,623.80. This represents a 40.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.

Flywire Trading Down 2.8%

NASDAQ FLYW opened at $11.48 on Thursday. The business’s 50-day moving average price is $9.76 and its two-hundred day moving average price is $15.79. Flywire Co. has a 12 month low of $8.20 and a 12 month high of $23.40. The firm has a market capitalization of $1.40 billion, a PE ratio of 76.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $128.70 million for the quarter, compared to analyst estimates of $124.18 million. During the same period in the prior year, the firm posted ($0.05) EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, analysts forecast that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

About Flywire

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.