Geode Capital Management LLC Raises Holdings in Flywire Co. (NASDAQ:FLYW)

Geode Capital Management LLC boosted its stake in Flywire Co. (NASDAQ:FLYW) by 0.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,799,486 shares of the company’s stock after acquiring an additional 17,062 shares during the period. Geode Capital Management LLC’s holdings in Flywire were worth $45,892,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new stake in shares of Flywire in the 2nd quarter valued at $26,000. Headlands Technologies LLC increased its stake in Flywire by 82.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after buying an additional 1,509 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Flywire during the 2nd quarter worth approximately $64,000. Advisors Asset Management Inc. boosted its position in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Flywire during the third quarter worth $149,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $19.84 on Tuesday. The company has a 50-day simple moving average of $20.13 and a 200-day simple moving average of $18.18. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 132.27, a PEG ratio of 3.10 and a beta of 1.08. Flywire Co. has a one year low of $15.19 and a one year high of $31.54.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FLYW shares. Raymond James boosted their target price on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Morgan Stanley lifted their price objective on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. B. Riley reiterated a “buy” rating and issued a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. The Goldman Sachs Group boosted their target price on Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.29.

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.