295,513 Shares in Flywire Co. (NASDAQ:FLYW) Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new stake in Flywire Co. (NASDAQ:FLYW) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 295,513 shares of the company’s stock, valued at approximately $4,843,000. Assenagon Asset Management S.A. owned 0.24% of Flywire at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Creative Planning boosted its stake in shares of Flywire by 36.5% during the 3rd quarter. Creative Planning now owns 29,685 shares of the company’s stock valued at $487,000 after purchasing an additional 7,940 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Flywire by 26.4% in the third quarter. Handelsbanken Fonder AB now owns 26,300 shares of the company’s stock worth $431,000 after buying an additional 5,500 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Flywire during the third quarter valued at approximately $149,000. Truist Financial Corp raised its holdings in shares of Flywire by 6.2% during the second quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock valued at $319,000 after purchasing an additional 1,128 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Flywire during the second quarter valued at approximately $12,642,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 2.0 %

Shares of FLYW stock opened at $17.52 on Wednesday. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $31.54. The stock has a 50 day moving average of $17.08 and a 200 day moving average of $17.58. The stock has a market cap of $2.19 billion, a P/E ratio of -250.29, a P/E/G ratio of 7.46 and a beta of 0.97.

Flywire (NASDAQ:FLYW) last posted its 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 firm had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, research analysts predict that Flywire Co. will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on FLYW. Deutsche Bank Aktiengesellschaft dropped their price target 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. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Citigroup reduced their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their target price 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.07.

Insider Buying and Selling

In other Flywire news, COO Rob Orgel sold 3,824 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 473,648 shares of the company’s stock, valued at $8,198,846.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Flywire news, COO Rob Orgel sold 3,824 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 473,648 shares of the company’s stock, valued at $8,198,846.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the transaction, the general counsel now directly owns 273,517 shares of the company’s stock, valued at $4,934,246.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by company insiders.

Flywire Company Profile

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.