Algert Global LLC Buys New Shares in Flywire Co. (NASDAQ:FLYW)

Algert Global LLC bought a new stake in Flywire Co. (NASDAQ:FLYW) during the second quarter, HoldingsChannel reports. The firm bought 10,969 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bullseye Asset Management LLC increased its position in shares of Flywire by 123.4% in the fourth quarter. Bullseye Asset Management LLC now owns 98,325 shares of the company’s stock valued at $2,276,000 after acquiring an additional 54,306 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Flywire by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock valued at $249,124,000 after acquiring an additional 243,523 shares during the last quarter. Gillson Capital LP increased its position in Flywire by 27.0% during the fourth quarter. Gillson Capital LP now owns 265,775 shares of the company’s stock worth $6,153,000 after buying an additional 56,428 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in Flywire during the first quarter worth approximately $4,274,000. Finally, Comerica Bank increased its position in Flywire by 14.8% during the first quarter. Comerica Bank now owns 697,799 shares of the company’s stock worth $17,312,000 after buying an additional 90,003 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup lowered their price target on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company lowered their price target on Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price target on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.21.

Flywire Trading Up 2.7 %

Shares of FLYW stock opened at $16.49 on Friday. The stock has a market cap of $2.05 billion, a P/E ratio of -149.91, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. The stock has a 50 day simple moving average of $17.26 and a 200 day simple moving average of $18.25. Flywire Co. has a 1 year low of $15.19 and a 1 year high of $31.61.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Analysts forecast that Flywire Co. will post 0.06 EPS for the current year.

Insiders Place Their Bets

In other Flywire news, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the sale, the chief operating officer now directly owns 473,648 shares in the company, valued at $8,198,846.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the transaction, the chief operating officer now directly owns 473,648 shares in the company, valued at approximately $8,198,846.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Massaro sold 8,629 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the transaction, the chief executive officer now owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,966 shares of company stock worth $480,143 over the last three months. Insiders own 3.90% of the company’s stock.

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.