Raymond James Financial Inc. Takes $35.58 Million Position in Flywire Co. (NASDAQ:FLYW)

Raymond James Financial Inc. bought a new stake in shares of Flywire Co. (NASDAQ:FLYW) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,725,447 shares of the company’s stock, valued at approximately $35,579,000.

Several other large investors have also recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of Flywire by 1.6% during the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock valued at $664,000 after purchasing an additional 513 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares during the last quarter. Bullseye Asset Management LLC increased its position in shares of Flywire by 0.7% during the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock valued at $2,407,000 after purchasing an additional 1,000 shares during the last quarter. Captrust Financial Advisors grew its position in Flywire by 12.3% in the 3rd quarter. Captrust Financial Advisors now owns 13,377 shares of the company’s stock valued at $219,000 after acquiring an additional 1,463 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Flywire in the fourth quarter worth $30,000. Institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered Flywire from a “buy” rating to a “neutral” rating and cut their price target for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. BTIG Research downgraded Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Finally, Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.23.

Insider Activity at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gretchen Howard purchased 8,889 shares of Flywire stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.94 per share, with a total value of $97,245.66. Following the completion of the transaction, the director now owns 30,770 shares of the company’s stock, valued at $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.

Flywire Stock Up 0.2 %

Flywire stock opened at $10.10 on Friday. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $26.41. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 67.33, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The stock has a 50-day moving average price of $17.23 and a 200 day moving average price of $18.38.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Research analysts anticipate that Flywire Co. will post 0.14 EPS for the current fiscal year.

Flywire 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.