Palogic Value Management L.P. Increases Stake in Flywire Co. (NASDAQ:FLYW)

Palogic Value Management L.P. boosted its stake in Flywire Co. (NASDAQ:FLYW) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Flywire comprises 1.5% of Palogic Value Management L.P.’s investment portfolio, making the stock its 15th largest position. Palogic Value Management L.P.’s holdings in Flywire were worth $3,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Arizona State Retirement System increased its stake in shares of Flywire by 1.6% during the fourth quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock valued at $664,000 after buying an additional 513 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Flywire by 15.4% during the third 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. Bullseye Asset Management LLC increased its stake in shares of Flywire by 0.7% during the third quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock valued at $2,407,000 after buying an additional 1,000 shares during the period. Captrust Financial Advisors increased its stake in shares of Flywire by 12.3% during the third quarter. Captrust Financial Advisors now owns 13,377 shares of the company’s stock valued at $219,000 after buying an additional 1,463 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in shares of Flywire during the fourth quarter valued at approximately $30,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Morgan Stanley reduced their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Raymond James cut Flywire from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group cut Flywire from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.23.

Flywire Trading Down 1.7 %

Flywire stock opened at $10.12 on Friday. The business’s fifty day simple moving average is $16.34 and its two-hundred day simple moving average is $18.12. Flywire Co. has a 12 month low of $8.62 and a 12 month high of $25.95. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 67.47, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $118.85 million. On average, equities research analysts predict that Flywire Co. will post 0.14 EPS for the current year.

Insiders Place Their Bets

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