Flywire Co. (NASDAQ:FLYW) Stake Increased by Avior Wealth Management LLC

Avior Wealth Management LLC grew its holdings in Flywire Co. (NASDAQ:FLYW) by 21.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,996 shares of the company’s stock after purchasing an additional 3,015 shares during the period. Avior Wealth Management LLC’s holdings in Flywire were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FLYW. UBS Group AG purchased a new stake in shares of Flywire in the third quarter valued at $36,000. Tower Research Capital LLC TRC lifted its holdings in shares of Flywire by 457.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock valued at $47,000 after purchasing an additional 1,314 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of Flywire in the third quarter valued at $55,000. Advisors Asset Management Inc. lifted its holdings in shares of Flywire by 76.3% in the third quarter. Advisors Asset Management Inc. now owns 1,742 shares of the company’s stock valued at $56,000 after purchasing an additional 754 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its holdings in shares of Flywire by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after purchasing an additional 589 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Insider Activity

In other news, CTO David R. King sold 9,366 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the sale, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at $16,968,806.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO David R. King sold 9,366 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the sale, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at $16,968,806.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Massaro sold 28,822 shares of Flywire stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $786,840.60. Following the sale, the chief executive officer now directly owns 1,743,032 shares in the company, valued at $47,584,773.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,800 shares of company stock valued at $3,743,582. 5.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Flywire from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Flywire in a report on Tuesday, February 6th. They set a “buy” rating and a $27.00 price objective for the company. Oppenheimer assumed coverage on Flywire in a report on Tuesday, January 23rd. They set an “outperform” rating and a $25.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of Flywire in a report on Wednesday, February 28th. Finally, UBS Group increased their price objective on Flywire from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.27.

Flywire Stock Performance

NASDAQ FLYW opened at $20.92 on Friday. The stock’s 50-day moving average is $24.19 and its two-hundred day moving average is $24.06. Flywire Co. has a fifty-two week low of $18.65 and a fifty-two week high of $35.80.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. The company had revenue of $100.55 million for the quarter, compared to the consensus estimate of $88.52 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The firm’s revenue was up 37.6% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share. On average, equities research analysts expect that Flywire Co. will post 0.05 EPS for the current fiscal year.

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.