Ascent Group LLC Purchases 9,880 Shares of Flywire Co. (NASDAQ:FLYW)

Ascent Group LLC raised its stake in shares of Flywire Co. (NASDAQ:FLYW) by 69.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,045 shares of the company’s stock after buying an additional 9,880 shares during the quarter. Ascent Group LLC’s holdings in Flywire were worth $394,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. William Blair Investment Management LLC grew its position in shares of Flywire by 125.1% during the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after buying an additional 6,519,598 shares during the period. Vanguard Group Inc. grew its position in shares of Flywire by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after buying an additional 100,704 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Flywire by 10.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock worth $120,018,000 after buying an additional 450,760 shares during the period. Capital International Investors grew its position in shares of Flywire by 21.8% during the 4th quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock worth $62,819,000 after buying an additional 485,654 shares during the period. Finally, Primecap Management Co. CA grew its position in shares of Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after buying an additional 1,407,180 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Stock Down 2.7 %

Shares of Flywire stock opened at $15.94 on Wednesday. Flywire Co. has a 12-month low of $15.19 and a 12-month high of $31.95. The stock has a market cap of $1.98 billion, a P/E ratio of -144.91, a P/E/G ratio of 5.42 and a beta of 0.98. The business’s 50 day moving average is $17.54 and its 200-day moving average is $18.59.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $100.30 million. During the same quarter in the prior year, the company earned ($0.15) EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, sell-side analysts expect that Flywire Co. will post 0.06 EPS for the current year.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the sale, the general counsel now owns 273,517 shares in the company, valued at approximately $4,934,246.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Flywire news, COO Rob Orgel sold 4,552 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $82,118.08. Following the transaction, the chief operating officer now directly owns 477,472 shares of the company’s stock, valued at approximately $8,613,594.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter Butterfield sold 1,769 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the transaction, the general counsel now directly owns 273,517 shares in the company, valued at $4,934,246.68. The disclosure for this sale can be found here. Insiders have sold a total of 26,966 shares of company stock worth $480,143 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FLYW. Wells Fargo & Company decreased their target price on Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. BTIG Research decreased their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Citigroup decreased their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flywire presently has an average rating of “Moderate Buy” and a consensus target price of $25.92.

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.