Harbor Capital Advisors Inc. Acquires 104,336 Shares of Flywire Co. (NASDAQ:FLYW)

Harbor Capital Advisors Inc. lifted its stake in shares of Flywire Co. (NASDAQ:FLYW) by 87.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 223,244 shares of the company’s stock after buying an additional 104,336 shares during the period. Harbor Capital Advisors Inc.’s holdings in Flywire were worth $3,659,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lisanti Capital Growth LLC acquired a new stake in Flywire in the first quarter worth $4,274,000. Comerica Bank grew its stake in shares of Flywire by 14.8% in the 1st quarter. Comerica Bank now owns 697,799 shares of the company’s stock valued at $17,312,000 after buying an additional 90,003 shares during the period. Vanguard Group Inc. increased its position in Flywire by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock valued at $269,486,000 after buying an additional 100,704 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in Flywire during the 2nd quarter worth approximately $734,000. Finally, Primecap Management Co. CA boosted its holdings in Flywire by 253.3% in the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after acquiring an additional 1,407,180 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on FLYW. B. Riley restated a “buy” rating and set a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $20.00 to $18.00 in a report on Friday, October 11th. BTIG Research lowered their target price 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. Finally, Royal Bank of Canada cut their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flywire currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.07.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $17.44 on Monday. Flywire Co. has a 1 year low of $15.19 and a 1 year high of $31.54. The company has a market capitalization of $2.18 billion, a PE ratio of -249.14, a price-to-earnings-growth ratio of 7.47 and a beta of 0.95. The business has a fifty day moving average price of $17.11 and a two-hundred day moving average price of $17.52.

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 the consensus estimate of ($0.10) by ($0.01). The company had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. Flywire’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) EPS. Sell-side analysts anticipate that Flywire Co. will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In other Flywire news, COO Rob Orgel sold 4,552 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 $82,118.08. Following the completion of the sale, the chief operating officer now directly owns 477,472 shares of the company’s stock, valued at $8,613,594.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Flywire news, CTO David R. King sold 3,504 shares of the business’s stock in a transaction 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 sale, the chief technology officer now owns 616,680 shares of the company’s stock, valued at $10,674,730.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Rob Orgel sold 4,552 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 $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 $8,613,594.88. The trade was a 0.00 % decrease in their ownership of the stock. 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.

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.