Palogic Value Management L.P. Increases Position in Flywire Co. (NASDAQ:FLYW)

Palogic Value Management L.P. boosted its holdings in Flywire Co. (NASDAQ:FLYW) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 190,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Flywire comprises 1.5% of Palogic Value Management L.P.’s portfolio, making the stock its 16th largest position. Palogic Value Management L.P. owned 0.15% of Flywire worth $3,918,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FLYW. Raymond James Financial Inc. acquired a new stake in shares of Flywire during the fourth quarter worth approximately $35,579,000. Teacher Retirement System of Texas bought a new position in Flywire during the 4th quarter valued at $24,363,000. Jennison Associates LLC grew its holdings in Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after acquiring an additional 1,179,562 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Flywire by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after purchasing an additional 781,711 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Flywire in the 4th quarter valued at about $7,541,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Buying and Selling at Flywire

In other news, Director Gretchen Howard bought 8,889 shares of the firm’s 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 purchase, the director now directly owns 30,770 shares of the company’s stock, valued at $336,623.80. This represents a 40.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now directly owns 247,561 shares in the company, valued at $2,495,414.88. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FLYW has been the subject of several research analyst reports. Stephens lowered Flywire from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $29.00 to $17.00 in a report on Wednesday, February 26th. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.23.

Flywire Trading Down 3.5 %

Shares of NASDAQ FLYW opened at $9.60 on Friday. Flywire Co. has a 12-month low of $8.62 and a 12-month high of $24.97. The company has a market cap of $1.19 billion, a PE ratio of 64.00, a P/E/G ratio of 1.41 and a beta of 1.17. The stock has a 50 day simple moving average of $15.22 and a 200-day simple moving average of $17.80.

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

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.