Dynamic Technology Lab Private Ltd Makes New Investment in Flywire Co. (NASDAQ:FLYW)

Dynamic Technology Lab Private Ltd bought a new position in Flywire Co. (NASDAQ:FLYW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,779 shares of the company’s stock, valued at approximately $275,000.

A number of other large investors have also made changes to their positions in FLYW. William Blair Investment Management LLC grew its position in Flywire by 125.1% during the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after purchasing an additional 6,519,598 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Flywire by 19.3% during the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after buying an additional 1,006,516 shares in the last quarter. Jennison Associates LLC raised its position in Flywire by 5.3% during the third quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after buying an additional 112,218 shares during the period. Primecap Management Co. CA lifted its stake in Flywire by 253.3% in the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after acquiring an additional 1,407,180 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Flywire by 33.4% during the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after acquiring an additional 453,183 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Buying and Selling at Flywire

In other Flywire news, CTO David R. King sold 3,504 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $60,654.24. Following the completion of the sale, the chief technology officer now directly owns 616,680 shares of the company’s stock, valued at $10,674,730.80. This represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Rob Orgel sold 4,552 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $82,118.08. Following the completion of the sale, the chief operating officer now owns 477,472 shares in the company, valued at $8,613,594.88. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,966 shares of company stock worth $480,143 over the last ninety days. Company insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FLYW. BTIG Research dropped their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley lifted their price objective on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Raymond James upped their target price on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Flywire has a consensus rating of “Moderate Buy” and a consensus price target of $24.86.

Flywire Trading Down 2.5 %

NASDAQ FLYW opened at $22.71 on Monday. Flywire Co. has a 1 year low of $15.19 and a 1 year high of $31.54. The company has a fifty day simple moving average of $18.70 and a 200 day simple moving average of $17.78. The company has a market cap of $2.83 billion, a P/E ratio of 151.40, a P/E/G ratio of 4.38 and a beta of 0.95.

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.