Rock Creek Group LP Invests $1.05 Million in Flywire Co. (NASDAQ:FLYW)

Rock Creek Group LP acquired a new stake in Flywire Co. (NASDAQ:FLYW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 50,939 shares of the company’s stock, valued at approximately $1,050,000.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Flywire in the 4th quarter valued at approximately $35,579,000. Teacher Retirement System of Texas purchased a new stake in shares of Flywire in the fourth quarter valued at approximately $24,363,000. Jennison Associates LLC grew its holdings in Flywire by 53.0% during the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after acquiring an additional 1,179,562 shares during the period. Vanguard Group Inc. raised its position in Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after acquiring an additional 781,711 shares in the last quarter. Finally, Norges Bank acquired a new stake in Flywire in the fourth quarter valued at $7,541,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. Citigroup dropped their price objective on Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 24th. The Goldman Sachs Group downgraded Flywire from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price target on Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.23.

Insider Activity at Flywire

In other news, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the acquisition, the director now owns 30,770 shares of the company’s stock, valued at $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Flywire Stock Performance

FLYW stock opened at $9.60 on Friday. The company has a 50 day moving average price of $15.22 and a two-hundred day moving average price of $17.81. The stock has a market capitalization of $1.19 billion, a P/E ratio of 64.00, a PEG ratio of 1.41 and a beta of 1.17. Flywire Co. has a one year low of $8.62 and a one year high of $24.97.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $112.80 million for the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Research analysts forecast that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

About Flywire

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.