Sei Investments Co. Increases Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Sei Investments Co. grew its position in Flywire Co. (NASDAQ:FLYW - Free Report) by 38.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,144 shares of the company's stock after purchasing an additional 30,572 shares during the quarter. Sei Investments Co. owned approximately 0.09% of Flywire worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. purchased a new stake in shares of Flywire during the fourth quarter worth about $632,000. Summit Global Investments bought a new position in Flywire in the 4th quarter worth approximately $440,000. Palogic Value Management L.P. grew its holdings in Flywire by 5.6% during the 4th quarter. Palogic Value Management L.P. now owns 190,000 shares of the company's stock valued at $3,918,000 after buying an additional 10,000 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Flywire during the fourth quarter valued at approximately $242,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Flywire during the fourth quarter valued at approximately $24,363,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Stock Performance

FLYW stock traded down $0.72 during midday trading on Thursday, reaching $8.42. The company's stock had a trading volume of 3,358,269 shares, compared to its average volume of 1,664,624. The stock has a fifty day simple moving average of $12.97 and a two-hundred day simple moving average of $17.18. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 56.13, a PEG ratio of 1.41 and a beta of 1.22. Flywire Co. has a 1 year low of $8.32 and a 1 year high of $23.40.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Stephens cut shares of Flywire from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Seaport Res Ptn cut Flywire from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Morgan Stanley decreased their target price on Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on Flywire from $15.00 to $11.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Citigroup reduced their price objective on Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Flywire has an average rating of "Hold" and an average price target of $17.92.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 5,523 shares of the company's 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gretchen Howard bought 8,889 shares of the business's stock in a transaction on 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 ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is owned by insiders.

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.