SG Americas Securities LLC Takes Position in Flywire Co. (NASDAQ:FLYW)

SG Americas Securities LLC purchased a new position in shares of Flywire Co. (NASDAQ:FLYW) in the third quarter, Holdings Channel.com reports. The fund purchased 9,084 shares of the company’s stock, valued at approximately $149,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP acquired a new stake in shares of Flywire in the second quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in Flywire during the first quarter worth $46,000. Advisors Asset Management Inc. raised its stake in shares of Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after buying an additional 954 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Flywire in the second quarter valued at $64,000. Finally, Algert Global LLC purchased a new position in shares of Flywire in the second quarter valued at $180,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Stock Performance

Shares of Flywire stock opened at $17.50 on Friday. Flywire Co. has a one year low of $15.19 and a one year high of $31.54. The stock’s fifty day moving average is $17.09 and its 200 day moving average is $17.76. The stock has a market cap of $2.17 billion, a P/E ratio of -156.82, a P/E/G ratio of 6.94 and a beta of 0.97.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. Flywire’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) earnings per share. Analysts predict that Flywire Co. will post 0.05 EPS for the current year.

Insider Activity

In related news, CEO Michael Massaro sold 8,629 shares of Flywire stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $155,667.16. Following the completion of the transaction, the chief executive officer now owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Flywire news, CEO Michael Massaro sold 8,629 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the completion of the transaction, the chief executive officer now owns 1,739,351 shares in the company, valued at $31,377,892.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Rob Orgel sold 4,552 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $82,118.08. Following the transaction, the chief operating officer now owns 477,472 shares of the company’s stock, valued at $8,613,594.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock worth $480,143 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FLYW shares. JPMorgan Chase & Co. boosted their target price on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada lowered their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Citigroup lowered their price target on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. BTIG Research decreased their target price on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, B. Riley restated a “buy” rating and issued a $30.00 price target on shares of Flywire in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.07.

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.