Flywire Co. (NASDAQ:FLYW) Shares Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lifted its stake in shares of Flywire Co. (NASDAQ:FLYW) by 18.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 592,489 shares of the company’s stock after acquiring an additional 94,280 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.48% of Flywire worth $12,217,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Flywire during the fourth quarter valued at approximately $77,000. ProShare Advisors LLC increased its stake in shares of Flywire by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 34,011 shares of the company’s stock valued at $701,000 after acquiring an additional 11,192 shares during the period. Man Group plc acquired a new position in shares of Flywire during the fourth quarter valued at approximately $350,000. Nuveen Asset Management LLC boosted its holdings in Flywire by 79.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,610,136 shares of the company’s stock worth $33,201,000 after buying an additional 712,843 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Flywire by 4.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 160,463 shares of the company’s stock worth $3,309,000 after buying an additional 7,239 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Flywire from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group raised their target price on shares of Flywire from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Raymond James cut shares of Flywire from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. restated an “underweight” rating and set a $9.00 target price (down from $16.00) on shares of Flywire in a report on Monday, April 14th. Finally, Stephens cut shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.62.

Flywire Stock Performance

Flywire stock opened at $11.36 on Friday. The company has a 50 day moving average price of $9.68 and a 200 day moving average price of $15.90. Flywire Co. has a 52 week low of $8.20 and a 52 week high of $23.40. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 75.73, a P/E/G ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $128.70 million during the quarter, compared to the consensus estimate of $124.18 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The company’s revenue was up 17.0% compared to the same quarter last year. Equities analysts forecast that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.