Eagle Asset Management Inc. Purchases 65,625 Shares of Flywire Co. (NASDAQ:FLYW)

Eagle Asset Management Inc. grew its holdings in Flywire Co. (NASDAQ:FLYW - Free Report) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 911,363 shares of the company's stock after purchasing an additional 65,625 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.73% of Flywire worth $14,937,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FLYW. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 100,704 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company's stock valued at $76,000 after buying an additional 954 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of Flywire during the first quarter worth $358,000. Ascent Group LLC raised its stake in shares of Flywire by 10.1% in the 1st quarter. Ascent Group LLC now owns 14,165 shares of the company's stock valued at $351,000 after purchasing an additional 1,300 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its position in Flywire by 28.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 369,659 shares of the company's stock valued at $9,171,000 after buying an additional 82,008 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Price Performance

Shares of NASDAQ FLYW traded down $0.01 during mid-day trading on Friday, hitting $22.92. 1,033,718 shares of the stock traded hands, compared to its average volume of 1,598,773. The company has a market cap of $2.85 billion, a PE ratio of 152.80, a price-to-earnings-growth ratio of 4.42 and a beta of 0.95. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $31.54. The firm has a 50 day simple moving average of $18.12 and a two-hundred day simple moving average of $17.58.

Insider Activity

In other news, CEO Michael Massaro sold 8,629 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $155,667.16. Following the transaction, the chief executive officer now directly owns 1,739,351 shares of the company's stock, valued at $31,377,892.04. The trade was a 0.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the completion of the sale, the chief technology officer now owns 616,680 shares of the company's stock, valued at approximately $10,674,730.80. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,966 shares of company stock valued at $480,143. Insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FLYW. Wells Fargo & Company downgraded shares of Flywire from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $20.00 to $18.00 in a research note on Friday, October 11th. B. Riley reissued a "buy" rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on Flywire from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of Flywire from $34.00 to $25.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Finally, Raymond James increased their price target on shares of Flywire from $23.00 to $27.00 and gave the company a "strong-buy" rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.86.

Flywire 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.