Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 45,907 Flywire Co. (NASDAQ:FLYW)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Flywire Co. (NASDAQ:FLYW) in the fourth quarter, Holdings Channel reports. The institutional investor bought 45,907 shares of the company’s stock, valued at approximately $947,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC acquired a new position in Flywire in the 4th quarter valued at about $30,000. Arcadia Investment Management Corp MI purchased a new stake in Flywire during the 4th quarter worth approximately $48,000. Advisors Asset Management Inc. increased its stake in Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after buying an additional 539 shares during the period. KBC Group NV increased its position in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after purchasing an additional 1,911 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Flywire in the 4th quarter valued at approximately $104,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

FLYW has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. Morgan Stanley lowered their target price on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Flywire currently has an average rating of “Hold” and a consensus price target of $19.23.

Flywire Price Performance

NASDAQ:FLYW opened at $10.12 on Friday. The firm has a 50 day simple moving average of $16.34 and a 200-day simple moving average of $18.12. The firm has a market cap of $1.25 billion, a PE ratio of 67.47, a P/E/G ratio of 1.41 and a beta of 1.17. Flywire Co. has a 1-year low of $8.62 and a 1-year high of $25.95.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share 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 analyst estimates of $118.85 million. As a group, sell-side analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Flywire

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

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.