Handelsbanken Fonder AB Increases Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Handelsbanken Fonder AB grew its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 26.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 26,300 shares of the company’s stock after purchasing an additional 5,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Flywire were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Quarry LP purchased a new stake in Flywire in the second quarter worth about $26,000. Headlands Technologies LLC bought a new stake in Flywire during the 1st quarter valued at approximately $46,000. Daiwa Securities Group Inc. purchased a new position in Flywire in the 2nd quarter worth approximately $64,000. Advisors Asset Management Inc. grew its holdings in 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Flywire in the third quarter worth $149,000. Institutional investors own 95.90% of the company’s stock.

Insider Buying and Selling

In other Flywire news, CEO Michael Massaro sold 8,629 shares of the 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 sale, the chief executive officer now owns 1,739,351 shares of the company’s stock, valued at approximately $31,377,892.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Flywire news, General Counsel Peter Butterfield sold 1,769 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the transaction, the general counsel now directly owns 273,517 shares in the company, valued at approximately $4,934,246.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Massaro sold 8,629 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $155,667.16. Following the completion of the sale, the chief executive officer now owns 1,739,351 shares in the company, valued at $31,377,892.04. This 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 valued at $480,143 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Flywire Trading Down 0.1 %

NASDAQ:FLYW opened at $16.47 on Tuesday. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -149.73, a price-to-earnings-growth ratio of 6.94 and a beta of 0.97. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $31.54. The stock has a fifty day simple moving average of $17.18 and a 200-day simple moving average of $18.05.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. During the same period last year, the firm earned ($0.15) earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities research analysts predict that Flywire Co. will post 0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FLYW. Royal Bank of Canada reduced their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Citigroup dropped their price target on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, B. Riley reissued a “buy” rating and set a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.07.

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.