Dakota Wealth Management Buys Shares of 12,157 Flywire Co. (NASDAQ:FLYW)

Dakota Wealth Management bought a new stake in Flywire Co. (NASDAQ:FLYW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,157 shares of the company’s stock, valued at approximately $199,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank grew its stake in shares of Flywire by 3.3% in the fourth quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock worth $353,000 after acquiring an additional 486 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Flywire by 3.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock worth $493,000 after acquiring an additional 702 shares in the last quarter. Assetmark Inc. increased its position in shares of Flywire by 16.9% in the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after purchasing an additional 733 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after purchasing an additional 954 shares in the last quarter. Finally, Ascent Group LLC grew its stake in shares of Flywire by 10.1% during the first quarter. Ascent Group LLC now owns 14,165 shares of the company’s stock worth $351,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Down 0.8 %

Shares of NASDAQ FLYW traded down $0.13 during trading on Wednesday, reaching $16.67. The company had a trading volume of 43,956 shares, compared to its average volume of 1,509,824. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $35.01. The stock has a 50-day moving average price of $17.20 and a two-hundred day moving average price of $20.11. The stock has a market capitalization of $2.07 billion, a PE ratio of -152.73, a price-to-earnings-growth ratio of 5.47 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The company had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $100.30 million. During the same period in the prior year, the business earned ($0.15) EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, sell-side analysts predict that Flywire Co. will post 0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

FLYW has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. UBS Group lowered their target price on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. BTIG Research lowered their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Flywire in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Flywire has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

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