Virtu Financial LLC Acquires New Shares in Flywire Co. (NASDAQ:FLYW)

Virtu Financial LLC bought a new position in Flywire Co. (NASDAQ:FLYW) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 16,595 shares of the company’s stock, valued at approximately $384,000.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Flywire during the fourth quarter worth $52,000. RiverPark Advisors LLC lifted its holdings in Flywire by 22.6% during the 4th quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock worth $74,000 after buying an additional 589 shares during the period. Assetmark Inc. grew its position in shares of Flywire by 16.9% in the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after buying an additional 733 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Flywire in the third quarter valued at about $224,000. Finally, Handelsinvest Investeringsforvaltning bought a new position in shares of Flywire during the fourth quarter worth about $176,000. 95.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FLYW has been the topic of several analyst reports. The Goldman Sachs Group reduced their target price on Flywire from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Royal Bank of Canada dropped their target price on shares of Flywire from $41.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Wells Fargo & Company decreased their price target on Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Finally, Truist Financial boosted their price objective on Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.40.

Insider Buying and Selling at Flywire

In other Flywire news, CEO Michael Massaro sold 13,043 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 1,655,673 shares of the company’s stock, valued at $39,852,049.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.90% of the company’s stock.

Flywire Stock Down 2.3 %

Shares of NASDAQ FLYW opened at $15.39 on Thursday. The company has a market capitalization of $1.91 billion, a PE ratio of -139.91, a PEG ratio of 18.30 and a beta of 1.00. The stock’s 50 day moving average price is $18.59 and its 200-day moving average price is $21.63. Flywire Co. has a twelve month low of $15.38 and a twelve month high of $35.80.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $114.10 million during the quarter, compared to the consensus estimate of $107.81 million. Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS. As a group, research analysts expect that Flywire Co. will post 0.02 EPS 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.