Flywire Co. (NASDAQ:FLYW) Shares Acquired by Renaissance Group LLC

Renaissance Group LLC grew its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 29.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,592 shares of the company’s stock after acquiring an additional 45,401 shares during the period. Renaissance Group LLC’s holdings in Flywire were worth $4,157,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FLYW. Renaissance Technologies LLC raised its position in shares of Flywire by 292.1% in the 4th quarter. Renaissance Technologies LLC now owns 254,400 shares of the company’s stock valued at $5,246,000 after purchasing an additional 189,521 shares in the last quarter. Invesco Ltd. raised its stake in Flywire by 18.5% during the fourth quarter. Invesco Ltd. now owns 89,451 shares of the company’s stock valued at $1,844,000 after buying an additional 13,985 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Flywire by 19,292.2% during the 4th quarter. Russell Investments Group Ltd. now owns 29,864 shares of the company’s stock worth $616,000 after buying an additional 29,710 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Flywire by 8.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 95,300 shares of the company’s stock worth $1,965,000 after acquiring an additional 7,571 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Flywire by 15.5% during the 4th quarter. Wells Fargo & Company MN now owns 100,220 shares of the company’s stock valued at $2,067,000 after acquiring an additional 13,423 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLYW. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and reduced their price target for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. Citigroup decreased their target price on Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Flywire has an average rating of “Hold” and an average target price of $17.92.

Flywire Price Performance

Shares of FLYW stock opened at $8.65 on Wednesday. The stock’s fifty day simple moving average is $13.61 and its 200 day simple moving average is $17.35. Flywire Co. has a one year low of $8.56 and a one year high of $23.90. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 57.67, a P/E/G ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. On average, research analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current year.

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.