Intech Investment Management LLC Takes $529,000 Position in Flywire Co. (NASDAQ:FLYW)

Intech Investment Management LLC acquired a new stake in Flywire Co. (NASDAQ:FLYW) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 32,301 shares of the company’s stock, valued at approximately $529,000.

Other hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC increased its stake in shares of Flywire by 125.1% during the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after purchasing an additional 6,519,598 shares during the period. Primecap Management Co. CA increased its stake in shares of Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after purchasing an additional 1,407,180 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Flywire during the second quarter worth approximately $12,642,000. Blair William & Co. IL raised its holdings in Flywire by 33.4% in the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock valued at $29,678,000 after acquiring an additional 453,183 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Flywire in the 2nd quarter valued at $6,886,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Flywire news, CTO David R. King sold 3,353 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the sale, 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 position. The transaction was disclosed in a 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 dated 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 sale, the general counsel now owns 273,517 shares in the company, valued at $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 26,966 shares of company stock worth $480,143 in the last 90 days. Insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup dropped their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Morgan Stanley lifted their price objective on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Finally, B. Riley reissued 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.86.

Flywire Stock Down 2.5 %

Shares of FLYW stock opened at $22.71 on Monday. The firm has a market capitalization of $2.83 billion, a P/E ratio of 151.40, a P/E/G ratio of 4.38 and a beta of 0.95. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $31.54. The stock’s fifty day simple moving average is $18.70 and its 200 day simple moving average is $17.78.

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.