Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 45,907 Flywire Co. (NASDAQ:FLYW)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Flywire Co. (NASDAQ:FLYW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 45,907 shares of the company's stock, valued at approximately $947,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLYW. Global Retirement Partners LLC bought a new position in shares of Flywire in the fourth quarter worth about $30,000. Arcadia Investment Management Corp MI bought a new position in Flywire in the 4th quarter worth about $48,000. Advisors Asset Management Inc. increased its position in shares of Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock worth $66,000 after acquiring an additional 539 shares during the period. KBC Group NV increased its position in shares of Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company's stock worth $101,000 after acquiring an additional 1,911 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Flywire in the fourth quarter valued at approximately $104,000. Hedge funds and other institutional investors own 95.90% of the company's stock.

Wall Street Analyst Weigh In

FLYW has been the topic of several research reports. BTIG Research lowered Flywire from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. UBS Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Raymond James downgraded shares of Flywire from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. Finally, Seaport Res Ptn cut Flywire from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Flywire currently has a consensus rating of "Hold" and an average target price of $18.23.

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Insider Transactions at Flywire

In other Flywire news, Director Gretchen Howard acquired 8,889 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $10.94 per share, for a total transaction 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. The trade was a 40.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the sale, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company's stock.

Flywire Price Performance

NASDAQ FLYW traded up $0.10 during trading on Monday, hitting $10.06. The company's stock had a trading volume of 6,019,621 shares, compared to its average volume of 1,561,596. Flywire Co. has a fifty-two week low of $8.62 and a fifty-two week high of $25.27. The company has a market cap of $1.24 billion, a PE ratio of 67.07, a P/E/G ratio of 1.41 and a beta of 1.17. The business's 50 day simple moving average is $16.18 and its 200-day simple moving average is $18.07.

Flywire (NASDAQ:FLYW - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.12) 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 company had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Analysts expect that Flywire Co. will post 0.14 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.