Westfield Capital Management Co. LP Acquires 1,006,516 Shares of Flywire Co. (NASDAQ:FLYW)

Westfield Capital Management Co. LP grew its stake in shares of Flywire Co. (NASDAQ:FLYW) by 19.3% in the third quarter, Holdings Channel reports. The fund owned 6,226,912 shares of the company’s stock after acquiring an additional 1,006,516 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Flywire were worth $102,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Flywire during the second quarter valued at $26,000. Headlands Technologies LLC grew its stake in shares of Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after purchasing an additional 1,509 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Flywire during the second quarter valued at approximately $64,000. Advisors Asset Management Inc. lifted its position in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Flywire during the 3rd quarter valued at approximately $149,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Down 0.0 %

Shares of NASDAQ:FLYW opened at $22.92 on Friday. The company has a market capitalization of $2.85 billion, a PE ratio of 152.80, a P/E/G ratio of 4.42 and a beta of 0.95. The business’s fifty day simple moving average is $18.12 and its 200-day simple moving average is $17.58. Flywire Co. has a 12-month low of $15.19 and a 12-month high of $31.54.

Insider Activity

In related news, CEO Michael Massaro sold 8,629 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 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 $31,377,892.04. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Rob Orgel sold 4,552 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $82,118.08. Following the sale, the chief operating officer now owns 477,472 shares in the company, valued at approximately $8,613,594.88. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,966 shares of company stock worth $480,143. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FLYW shares. Citigroup lowered their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. B. Riley reiterated a “buy” rating and set a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.86.

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.