Main Management ETF Advisors LLC Makes New $763,000 Investment in Flywire Co. (NASDAQ:FLYW)

Main Management ETF Advisors LLC acquired a new position in Flywire Co. (NASDAQ:FLYW) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 46,560 shares of the company’s stock, valued at approximately $763,000.

A number of other large investors have also modified their holdings of the company. State Street Corp increased its holdings in shares of Flywire by 5.2% in the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after acquiring an additional 145,894 shares during the period. Invenomic Capital Management LP increased its holdings in shares of Flywire by 100.6% in the 3rd quarter. Invenomic Capital Management LP now owns 680,668 shares of the company’s stock worth $11,156,000 after acquiring an additional 341,411 shares during the period. Holocene Advisors LP grew its position in Flywire by 46.8% in the 3rd quarter. Holocene Advisors LP now owns 125,273 shares of the company’s stock valued at $2,053,000 after buying an additional 39,941 shares in the last quarter. Ascent Group LLC grew its position in Flywire by 17.0% in the 3rd quarter. Ascent Group LLC now owns 28,142 shares of the company’s stock valued at $461,000 after buying an additional 4,097 shares in the last quarter. Finally, Twenty Acre Capital LP grew its position in Flywire by 21.4% in the 3rd quarter. Twenty Acre Capital LP now owns 390,400 shares of the company’s stock valued at $6,399,000 after buying an additional 68,700 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analyst Upgrades and Downgrades

FLYW has been the subject of a number of recent analyst reports. Raymond James increased their target price on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. The Goldman Sachs Group raised their target price on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. raised their target price on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $18.00 in a report on Friday, October 11th. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.29.

Flywire Price Performance

NASDAQ FLYW opened at $21.47 on Friday. The company has a 50 day simple moving average of $19.26 and a 200-day simple moving average of $17.97. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 143.13, a price-to-earnings-growth ratio of 3.68 and a beta of 1.08. Flywire Co. has a 52-week low of $15.19 and a 52-week high of $31.54.

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.