Daiwa Securities Group Inc. Buys Shares of 3,927 Flywire Co. (NASDAQ:FLYW)

Daiwa Securities Group Inc. bought a new stake in shares of Flywire Co. (NASDAQ:FLYW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,927 shares of the company’s stock, valued at approximately $64,000.

Several other institutional investors have also added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in shares of Flywire by 3.3% during the 4th quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock valued at $353,000 after buying an additional 486 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Flywire by 3.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock valued at $493,000 after buying an additional 702 shares during the period. Assetmark Inc. lifted its holdings in shares of Flywire by 16.9% during 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 period. Arizona State Retirement System lifted its holdings in shares of Flywire by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock valued at $499,000 after buying an additional 908 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Flywire by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after buying an additional 954 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $17.50 on Wednesday. The business’s 50 day moving average is $17.81 and its two-hundred day moving average is $19.28. Flywire Co. has a 1-year low of $15.19 and a 1-year high of $32.84. The stock has a market capitalization of $2.17 billion, a P/E ratio of -159.09, a PEG ratio of 5.83 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The company had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Flywire Co. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FLYW. Wedbush reissued a “neutral” rating and set a $18.00 price target on shares of Flywire in a report on Thursday, May 23rd. Wells Fargo & Company decreased their target price on Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. BTIG Research decreased their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Flywire has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

Insider Activity

In other news, CTO David R. King sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares of the company’s stock, valued at $11,188,119.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO David R. King sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares of the company’s stock, valued at $11,188,119.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $66,193.44. Following the transaction, the chief operating officer now directly owns 473,648 shares in the company, valued at approximately $8,198,846.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by insiders.

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.