ExodusPoint Capital Management LP Purchases New Stake in Flywire Co. (NASDAQ:FLYW)

ExodusPoint Capital Management LP acquired a new stake in Flywire Co. (NASDAQ:FLYW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 59,773 shares of the company's stock, valued at approximately $1,233,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FLYW. Bryce Point Capital LLC acquired a new position in Flywire in the fourth quarter valued at about $539,000. Trexquant Investment LP raised its position in shares of Flywire by 123.0% in the 4th quarter. Trexquant Investment LP now owns 517,926 shares of the company's stock valued at $10,680,000 after acquiring an additional 285,662 shares during the period. Geode Capital Management LLC boosted its stake in Flywire by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company's stock worth $58,335,000 after acquiring an additional 28,944 shares during the last quarter. Franklin Resources Inc. grew its holdings in Flywire by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 1,966,179 shares of the company's stock valued at $40,543,000 after purchasing an additional 21,818 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Flywire by 1.3% in the fourth quarter. Alliancebernstein L.P. now owns 145,705 shares of the company's stock valued at $3,004,000 after purchasing an additional 1,839 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Flywire

In related news, Director Gretchen Howard acquired 8,889 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $10.94 per share, for a total transaction of $97,245.66. Following 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction 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 transaction, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

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Flywire Stock Down 2.0 %

FLYW traded down $0.18 during midday trading on Tuesday, hitting $8.48. 325,259 shares of the company were exchanged, compared to its average volume of 1,666,159. The firm's 50 day moving average price is $12.52 and its 200-day moving average price is $17.08. Flywire Co. has a 1-year low of $8.20 and a 1-year high of $23.40. The firm has a market capitalization of $1.05 billion, a P/E ratio of 56.43, a P/E/G ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The company had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. On average, sell-side analysts predict that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FLYW shares. Citigroup lowered their target price on Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 24th. UBS Group downgraded Flywire from a "buy" rating to a "neutral" rating and cut their price objective for the company from $25.00 to $15.00 in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their target price on Flywire from $15.00 to $11.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. restated an "underweight" rating and set a $9.00 target price (down previously from $16.00) on shares of Flywire in a research report on Monday. Finally, Stephens cut Flywire from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Flywire currently has a consensus rating of "Hold" and a consensus target price of $17.00.

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.