Primecap Management Co. CA Has $32.17 Million Stake in Flywire Co. (NASDAQ:FLYW)

Primecap Management Co. CA boosted its position in Flywire Co. (NASDAQ:FLYW) by 253.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,962,633 shares of the company’s stock after buying an additional 1,407,180 shares during the period. Primecap Management Co. CA owned approximately 1.58% of Flywire worth $32,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC raised its holdings in shares of Flywire by 125.1% during the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after purchasing an additional 6,519,598 shares during the period. Vanguard Group Inc. raised its holdings in shares of Flywire by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock valued at $269,486,000 after purchasing an additional 100,704 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of Flywire by 10.3% during the first quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock valued at $120,018,000 after purchasing an additional 450,760 shares during the period. Eventide Asset Management LLC raised its holdings in shares of Flywire by 3.2% during the fourth quarter. Eventide Asset Management LLC now owns 4,203,264 shares of the company’s stock valued at $97,306,000 after purchasing an additional 131,996 shares during the period. Finally, Capital International Investors raised its holdings in shares of Flywire by 21.8% during the fourth quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock valued at $62,819,000 after purchasing an additional 485,654 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Buying and Selling

In related news, COO Rob Orgel sold 4,552 shares of Flywire stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $8,613,594.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Rob Orgel sold 4,552 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $82,118.08. Following the completion of the transaction, the chief operating officer now directly owns 477,472 shares of the company’s stock, valued at approximately $8,613,594.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO David R. King sold 3,504 shares of Flywire stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $60,654.24. Following the completion of the transaction, the chief technology officer now owns 616,680 shares of the company’s stock, valued at $10,674,730.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FLYW shares. BTIG Research dropped their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Wedbush reissued a “neutral” rating and set a $18.00 target price on shares of Flywire in a research report on Thursday, May 23rd. Royal Bank of Canada decreased their target price on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Citigroup decreased their target price 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. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.92.

Flywire Stock Performance

Shares of FLYW stock opened at $17.50 on Wednesday. Flywire Co. has a 52-week low of $15.19 and a 52-week high of $32.84. The company has a 50-day simple moving average of $17.81 and a two-hundred day simple moving average of $19.28. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -159.09, a PEG ratio of 5.83 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) EPS. On average, sell-side analysts forecast that Flywire Co. will post 0.06 EPS for the current fiscal year.

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.