Charles Schwab Investment Management Inc. Has $19.50 Million Holdings in Flywire Co. (NASDAQ:FLYW)

Charles Schwab Investment Management Inc. lifted its holdings in Flywire Co. (NASDAQ:FLYW) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 945,612 shares of the company’s stock after acquiring an additional 13,698 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Flywire were worth $19,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC boosted its holdings in shares of Flywire by 3.6% in the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after acquiring an additional 326,120 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after acquiring an additional 1,006,516 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after acquiring an additional 1,179,562 shares in the last quarter. State Street Corp lifted its holdings in Flywire by 5.2% during the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after buying an additional 145,894 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Flywire by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after buying an additional 17,062 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Flywire

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup reduced their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Stephens downgraded Flywire from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. The Goldman Sachs Group downgraded Flywire from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. UBS Group downgraded Flywire from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $15.00 in a report on Wednesday, February 26th. Finally, Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.23.

Flywire Stock Performance

Shares of Flywire stock opened at $10.29 on Thursday. The firm has a fifty day moving average of $16.51 and a two-hundred day moving average of $18.18. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 68.60, a PEG ratio of 1.41 and a beta of 1.17. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $25.95.

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

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.