Cibc World Markets Corp Invests $233,000 in Flywire Co. (NASDAQ:FLYW)

Cibc World Markets Corp purchased a new stake in shares of Flywire Co. (NASDAQ:FLYW) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,301 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of 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. Versor Investments LP bought a new stake in Flywire during the fourth quarter worth $1,118,000. Y Intercept Hong Kong Ltd boosted its position in Flywire by 345.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock worth $1,980,000 after purchasing an additional 74,465 shares during the last quarter. FMR LLC grew its stake in Flywire by 3.6% in the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after purchasing an additional 326,120 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of Flywire by 99.7% during the 4th quarter. New York State Common Retirement Fund now owns 220,625 shares of the company’s stock valued at $4,549,000 after purchasing an additional 110,124 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on FLYW. Citigroup cut their price target on shares of Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and dropped their target price for the company from $26.00 to $16.00 in a research note on Wednesday, February 26th. UBS Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. The Goldman Sachs Group downgraded Flywire from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.23.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction dated 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 $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 purchased 8,889 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the acquisition, the director now 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 disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.

Flywire Stock Up 1.5 %

Shares of NASDAQ FLYW opened at $10.21 on Wednesday. The business has a 50-day simple moving average of $15.83 and a two-hundred day simple moving average of $17.97. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $25.27. The company has a market cap of $1.26 billion, a P/E ratio of 68.07, a P/E/G ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $118.85 million. Equities research analysts anticipate that Flywire Co. will post 0.14 EPS for the current year.

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.