Axiom Investors LLC DE Invests $2.72 Million in Flywire Co. (NASDAQ:FLYW)

Axiom Investors LLC DE acquired a new stake in Flywire Co. (NASDAQ:FLYW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 87,695 shares of the company’s stock, valued at approximately $2,722,000.

A number of other large investors also recently bought and sold shares of the stock. UBS Group AG purchased a new stake in shares of Flywire in the 3rd quarter valued at approximately $36,000. Tower Research Capital LLC TRC lifted its stake in Flywire by 457.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock worth $47,000 after acquiring an additional 1,314 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in Flywire during the 3rd quarter valued at about $55,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Flywire in the 2nd quarter valued at about $79,000. Finally, Assetmark Inc. increased its stake in Flywire by 15.1% during the first quarter. Assetmark Inc. now owns 3,516 shares of the company’s stock worth $103,000 after purchasing an additional 462 shares during the period. Institutional investors and hedge funds own 92.55% of the company’s stock.

Flywire Price Performance

NASDAQ FLYW opened at $23.33 on Tuesday. The firm’s fifty day moving average price is $28.02 and its 200 day moving average price is $30.31. Flywire Co. has a 12 month low of $18.65 and a 12 month high of $35.80. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -212.09 and a beta of 1.19.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). Flywire had a negative return on equity of 1.96% and a negative net margin of 2.92%. The firm had revenue of $123.32 million for the quarter, compared to analysts’ expectations of $119.50 million. During the same period in the previous year, the business posted ($0.04) EPS. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Flywire Co. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Peter Butterfield sold 11,232 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $28.60, for a total value of $321,235.20. Following the completion of the sale, the general counsel now directly owns 146,145 shares of the company’s stock, valued at $4,179,747. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael Massaro sold 11,457 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $29.00, for a total transaction of $332,253.00. Following the completion of the sale, the chief executive officer now owns 966,398 shares in the company, valued at $28,025,542. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 11,232 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $28.60, for a total transaction of $321,235.20. Following the transaction, the general counsel now owns 146,145 shares of the company’s stock, valued at approximately $4,179,747. The disclosure for this sale can be found here. Insiders have sold 73,560 shares of company stock worth $2,199,234 in the last quarter. 5.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of Flywire from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. Wells Fargo & Company decreased their target price on Flywire from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, November 8th. Citigroup upped their price target on Flywire from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Seaport Res Ptn reiterated a “buy” rating on shares of Flywire in a research note on Thursday, October 12th. Finally, BTIG Research initiated coverage on shares of Flywire in a report on Thursday, September 28th. They issued a “buy” rating and a $37.00 target price on the stock. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $34.79.

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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.