295,513 Shares in Flywire Co. (NASDAQ:FLYW) Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new stake in Flywire Co. (NASDAQ:FLYW - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 295,513 shares of the company's stock, valued at approximately $4,843,000. Assenagon Asset Management S.A. owned approximately 0.24% of Flywire as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Lisanti Capital Growth LLC purchased a new position in shares of Flywire during the first quarter valued at approximately $4,274,000. Comerica Bank raised its stake in shares of Flywire by 14.8% during the 1st quarter. Comerica Bank now owns 697,799 shares of the company's stock valued at $17,312,000 after purchasing an additional 90,003 shares during the period. Harbor Capital Advisors Inc. increased its stake in Flywire by 139.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company's stock worth $1,949,000 after acquiring an additional 69,304 shares during the last quarter. Vanguard Group Inc. increased its stake in Flywire by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company's stock worth $269,486,000 after acquiring an additional 100,704 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in Flywire in the 2nd quarter worth approximately $734,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Flywire

In other Flywire news, COO Rob Orgel sold 3,824 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $66,193.44. Following the transaction, the chief operating officer now owns 473,648 shares in the company, valued at approximately $8,198,846.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Rob Orgel sold 3,824 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 transaction of $66,193.44. Following the completion of the transaction, the chief operating officer now owns 473,648 shares of the company's stock, valued at $8,198,846.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO David R. King sold 3,353 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $60,488.12. Following the transaction, the chief technology officer now directly owns 620,184 shares of the company's stock, valued at approximately $11,188,119.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,966 shares of company stock valued at $480,143 over the last 90 days. Insiders own 3.90% of the company's stock.

Flywire Price Performance

FLYW stock traded up $0.48 during mid-day trading on Wednesday, reaching $18.00. The company had a trading volume of 622,211 shares, compared to its average volume of 1,383,400. The company has a market capitalization of $2.25 billion, a PE ratio of -257.14, a price-to-earnings-growth ratio of 7.46 and a beta of 0.97. The firm has a 50 day moving average of $17.10 and a 200 day moving average of $17.59. Flywire Co. has a 12 month low of $15.19 and a 12 month high of $31.54.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The company had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Flywire's revenue was up 22.2% on a year-over-year basis. Analysts anticipate that Flywire Co. will post 0.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on FLYW shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Flywire from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Citigroup dropped their price objective 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. Royal Bank of Canada decreased their target price on shares of Flywire from $34.00 to $25.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Flywire from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Finally, B. Riley reiterated a "buy" rating and set a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Flywire currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.07.

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.