Flywire Co. (NASDAQ:FLYW) Stake Increased by Palogic Value Management L.P.

Palogic Value Management L.P. boosted its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 5.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 190,000 shares of the company’s stock after buying an additional 10,000 shares during the period. Flywire makes up approximately 1.5% of Palogic Value Management L.P.’s investment portfolio, making the stock its 16th largest position. Palogic Value Management L.P.’s holdings in Flywire were worth $3,918,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in Flywire during the 4th quarter valued at about $30,000. Arcadia Investment Management Corp MI purchased a new position in Flywire during the fourth quarter valued at approximately $48,000. Advisors Asset Management Inc. increased its stake 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. KBC Group NV lifted its position in Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after buying an additional 1,911 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Flywire during the 4th quarter valued at $104,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FLYW shares. UBS Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. Stephens lowered Flywire from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their price target on Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Morgan Stanley dropped their price objective on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup decreased their target price on shares of Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.23.

Flywire Stock Down 3.5 %

Shares of NASDAQ FLYW opened at $9.60 on Friday. Flywire Co. has a 12 month low of $8.62 and a 12 month high of $24.97. The company has a market cap of $1.19 billion, a P/E ratio of 64.00, a P/E/G ratio of 1.41 and a beta of 1.17. The business’s 50 day moving average is $15.22 and its two-hundred day moving average is $17.80.

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). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. Sell-side analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, the director now directly owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. The trade was a 40.62 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the company’s 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 transaction, 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 company insiders.

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.