Intech Investment Management LLC Invests $529,000 in Flywire Co. (NASDAQ:FLYW)

Intech Investment Management LLC acquired a new stake in Flywire Co. (NASDAQ:FLYW - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 32,301 shares of the company's stock, valued at approximately $529,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement Association of Colorado acquired a new position in shares of Flywire in the first quarter worth about $358,000. Harbor Capital Advisors Inc. lifted its position in Flywire by 139.7% in the second quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company's stock worth $1,949,000 after purchasing an additional 69,304 shares during the period. Dakota Wealth Management acquired a new stake in shares of Flywire during the 2nd quarter valued at $199,000. Gilliland Jeter Wealth Management LLC lifted its position in shares of Flywire by 104.3% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 11,801 shares of the company's stock valued at $193,000 after acquiring an additional 6,025 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Flywire by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,445,629 shares of the company's stock valued at $23,694,000 after acquiring an additional 97,412 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of Flywire from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley upped their target price on shares of Flywire from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of Flywire from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. The Goldman Sachs Group increased their price target on shares of Flywire from $22.00 to $27.00 and gave the company a "buy" rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Flywire from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.29.

Insiders Place Their Bets

In other Flywire news, CTO David R. King sold 3,504 shares of the firm's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $60,654.24. Following the sale, the chief technology officer now owns 616,680 shares of the company's stock, valued at $10,674,730.80. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $31,912.76. Following the sale, the general counsel now directly owns 273,517 shares in the company, valued at $4,934,246.68. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock valued at $480,143 in the last quarter. Corporate insiders own 3.90% of the company's stock.

Flywire Trading Up 1.9 %

Shares of NASDAQ FLYW traded up $0.43 during midday trading on Monday, hitting $23.14. The company's stock had a trading volume of 1,760,246 shares, compared to its average volume of 1,412,744. Flywire Co. has a one year low of $15.19 and a one year high of $31.54. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 151.93, a P/E/G ratio of 4.38 and a beta of 0.95. The stock has a fifty day moving average price of $18.70 and a 200 day moving average price of $17.79.

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.