Algert Global LLC Buys Shares of 26,470 Flywire Co. (NASDAQ:FLYW)

Algert Global LLC bought a new stake in Flywire Co. (NASDAQ:FLYW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 26,470 shares of the company’s stock, valued at approximately $546,000.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in Flywire in the fourth quarter valued at approximately $30,000. Arcadia Investment Management Corp MI bought a new stake in Flywire in the fourth quarter valued at approximately $48,000. KBC Group NV increased its stake in Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after purchasing an additional 1,911 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Flywire in the fourth quarter valued at approximately $104,000. Finally, Highland Capital Management LLC bought a new stake in Flywire in the fourth quarter valued at approximately $221,000. Institutional investors own 95.90% of the company’s stock.

Flywire Trading Down 2.1%

Shares of FLYW opened at $10.89 on Monday. Flywire Co. has a 12 month low of $8.20 and a 12 month high of $23.40. The firm has a fifty day simple moving average of $9.57 and a 200 day simple moving average of $16.11. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 72.60, a PEG ratio of 1.41 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on FLYW. Wolfe Research reaffirmed a “peer perform” rating on shares of Flywire in a research note on Wednesday, April 23rd. Citigroup lowered their price objective 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. Royal Bank of Canada lowered their price objective on shares of Flywire from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $9.00 price objective (down previously from $16.00) on shares of Flywire in a research report on Monday, April 14th. Finally, B. Riley reissued a “buy” rating and set a $17.00 price objective (down previously from $29.00) on shares of Flywire in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.62.

Insider Buying and Selling at Flywire

In other news, Director Gretchen Howard purchased 8,889 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price 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 in the company, valued at $336,623.80. The trade was a 40.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. This represents a 2.18% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

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.