Ensign Peak Advisors Inc Invests $734,000 in Flywire Co. (NASDAQ:FLYW)

Ensign Peak Advisors Inc acquired a new position in shares of Flywire Co. (NASDAQ:FLYW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,800 shares of the company’s stock, valued at approximately $734,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its position in shares of Flywire by 3.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock worth $493,000 after purchasing an additional 702 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Flywire by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock worth $499,000 after purchasing an additional 908 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Flywire by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after purchasing an additional 954 shares in the last quarter. Ascent Group LLC boosted its position in shares of Flywire by 10.1% during the 1st quarter. Ascent Group LLC now owns 14,165 shares of the company’s stock worth $351,000 after purchasing an additional 1,300 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its position in shares of Flywire by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 16,142 shares of the company’s stock worth $265,000 after purchasing an additional 1,416 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Stock Down 2.1 %

Shares of FLYW stock opened at $16.47 on Friday. The company has a 50 day moving average of $17.62 and a 200-day moving average of $18.78. Flywire Co. has a 12-month low of $15.19 and a 12-month high of $32.84. The firm has a market cap of $2.06 billion, a P/E ratio of -149.71, a PEG ratio of 5.42 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last issued its quarterly 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 return on equity of 1.03% and a negative net margin of 1.85%. The company had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $100.30 million. During the same quarter in the previous year, the business earned ($0.15) EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities analysts expect that Flywire Co. will post 0.06 EPS for the current year.

Insider Transactions at Flywire

In other news, CTO David R. King sold 3,353 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $60,488.12. Following the completion of the sale, the chief technology officer now owns 620,184 shares in the company, valued at approximately $11,188,119.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CTO David R. King sold 3,353 shares of the firm’s 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 $60,488.12. Following the completion of the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO David R. King sold 3,504 shares of the firm’s 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 $60,654.24. Following the completion of the transaction, the chief technology officer now directly owns 616,680 shares of the company’s stock, valued at $10,674,730.80. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock worth $480,143 in the last quarter. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

FLYW has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Citigroup dropped their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their price target on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, BTIG Research dropped their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

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.