Quest Partners LLC Grows Position in Flywire Co. (NASDAQ:FLYW)

Quest Partners LLC boosted its stake in Flywire Co. (NASDAQ:FLYW) by 575.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,622 shares of the company’s stock after buying an additional 12,456 shares during the period. Quest Partners LLC’s holdings in Flywire were worth $240,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Quarry LP acquired a new stake in Flywire in the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC grew its stake in shares of Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after buying an additional 1,509 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Flywire in the 2nd quarter valued at $64,000. Advisors Asset Management Inc. lifted its stake in 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 acquiring an additional 954 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Flywire during the 3rd quarter valued at about $149,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Trading Down 2.1 %

Shares of FLYW stock opened at $22.46 on Wednesday. The company has a market capitalization of $2.79 billion, a P/E ratio of 149.73, a price-to-earnings-growth ratio of 4.42 and a beta of 0.95. The business’s 50 day moving average is $18.22 and its two-hundred day moving average is $17.62. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $31.54.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Citigroup reduced 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 cut shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Raymond James upped their price objective on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, B. Riley restated a “buy” rating and set a $30.00 price target on shares of Flywire in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.86.

Insider Activity at Flywire

In other Flywire news, CTO David R. King sold 3,353 shares of Flywire stock in a transaction dated 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 transaction, the chief technology officer now owns 620,184 shares in the company, valued at approximately $11,188,119.36. The trade was a 0.54 % decrease in their ownership of the stock. 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 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 sale, the general counsel now owns 273,517 shares in the company, valued at approximately $4,934,246.68. This trade represents a 0.64 % decrease in their position. 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 three months. Insiders own 3.90% of the company’s stock.

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.