Norges Bank Invests $7.54 Million in Flywire Co. (NASDAQ:FLYW)

Norges Bank purchased a new stake in Flywire Co. (NASDAQ:FLYW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 365,701 shares of the company's stock, valued at approximately $7,541,000. Norges Bank owned 0.29% of Flywire at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of Flywire in the 4th quarter worth approximately $30,000. Arcadia Investment Management Corp MI acquired a new stake in Flywire in the 4th quarter valued at about $48,000. KBC Group NV raised its stake in shares of Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company's stock worth $101,000 after acquiring an additional 1,911 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Flywire during the fourth quarter worth approximately $104,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Flywire in the 3rd quarter valued at $209,000. Institutional investors own 95.90% of the company's stock.

Insider Transactions at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gretchen Howard acquired 8,889 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the acquisition, the director now owns 30,770 shares in the company, valued at $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.90% of the company's stock.

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Analyst Ratings Changes

Several equities analysts recently issued reports on FLYW shares. Raymond James lowered Flywire from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. Stephens lowered Flywire from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Citigroup decreased their target price on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Royal Bank of Canada decreased their target price on Flywire from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Flywire from $20.00 to $16.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Flywire has an average rating of "Hold" and an average price target of $17.00.

Flywire Stock Performance

Flywire stock traded up $0.06 during mid-day trading on Monday, reaching $8.59. The stock had a trading volume of 133,951 shares, compared to its average volume of 1,663,100. The stock's 50-day simple moving average is $12.74 and its 200-day simple moving average is $17.13. Flywire Co. has a fifty-two week low of $8.20 and a fifty-two week high of $23.40. The firm has a market capitalization of $1.06 billion, a PE ratio of 57.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22.

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

About Flywire

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.