Trexquant Investment LP Increases Stake in Flywire Co. (NASDAQ:FLYW)

Trexquant Investment LP raised its stake in shares of Flywire Co. (NASDAQ:FLYW) by 123.0% during the fourth quarter, HoldingsChannel reports. The firm owned 517,926 shares of the company’s stock after purchasing an additional 285,662 shares during the quarter. Trexquant Investment LP’s holdings in Flywire were worth $10,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLYW. Geode Capital Management LLC raised its stake in Flywire by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock worth $58,335,000 after acquiring an additional 28,944 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Flywire by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 1,966,179 shares of the company’s stock worth $40,543,000 after purchasing an additional 21,818 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Flywire by 1.3% during the fourth quarter. Alliancebernstein L.P. now owns 145,705 shares of the company’s stock worth $3,004,000 after purchasing an additional 1,839 shares during the period. Rock Creek Group LP purchased a new stake in Flywire in the fourth quarter valued at approximately $1,050,000. Finally, Palogic Value Management L.P. increased its holdings in Flywire by 5.6% in the 4th quarter. Palogic Value Management L.P. now owns 190,000 shares of the company’s stock worth $3,918,000 after buying an additional 10,000 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gretchen Howard acquired 8,889 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $10.94 per share, with a total value of $97,245.66. Following the completion of the transaction, the director now directly owns 30,770 shares of the company’s stock, valued at $336,623.80. This trade represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on FLYW. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. BTIG Research lowered Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. Morgan Stanley decreased their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.92.

Flywire Stock Up 2.8 %

Shares of NASDAQ FLYW opened at $9.83 on Thursday. Flywire Co. has a 52-week low of $8.62 and a 52-week high of $24.33. The company’s 50-day simple moving average is $14.62 and its 200-day simple moving average is $17.64. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 65.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Equities research analysts anticipate that Flywire Co. will post 0.14 EPS for the current fiscal year.

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.