Raymond James Financial Inc. Buys New Position in Flywire Co. (NASDAQ:FLYW)

Raymond James Financial Inc. purchased a new position in shares of Flywire Co. (NASDAQ:FLYW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,725,447 shares of the company's stock, valued at approximately $35,579,000. Raymond James Financial Inc. owned about 1.39% of Flywire as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in Flywire by 1.6% in the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company's stock valued at $664,000 after purchasing an additional 513 shares during the period. Victory Capital Management Inc. lifted its position in shares of Flywire by 73.8% during the 4th quarter. Victory Capital Management Inc. now owns 806,257 shares of the company's stock valued at $16,625,000 after acquiring an additional 342,245 shares during the period. Keybank National Association OH lifted its position in shares of Flywire by 59.0% during the 4th quarter. Keybank National Association OH now owns 20,880 shares of the company's stock valued at $431,000 after acquiring an additional 7,746 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Flywire by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 945,612 shares of the company's stock worth $19,499,000 after buying an additional 13,698 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Flywire during the 4th quarter worth $1,118,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut Flywire from a "buy" rating to a "hold" rating and lowered their target price for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. UBS Group lowered Flywire from a "buy" rating to a "neutral" rating and cut their target price for the company from $25.00 to $15.00 in a research report on Wednesday, February 26th. Raymond James lowered Flywire from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. The Goldman Sachs Group lowered Flywire from a "buy" rating to a "neutral" rating and dropped their target price for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Finally, Seaport Res Ptn lowered Flywire from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $19.23.

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Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 5,523 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now directly owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired 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. 3.90% of the stock is owned by corporate insiders.

Flywire Trading Up 0.2 %

Shares of Flywire stock opened at $10.10 on Friday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 67.33, a P/E/G ratio of 1.41 and a beta of 1.17. The business has a fifty day simple moving average of $17.23 and a two-hundred day simple moving average of $18.38. Flywire Co. has a 12 month low of $8.62 and a 12 month high of $26.41.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results 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 return on equity of 2.49% and a net margin of 4.23%. Analysts predict that Flywire Co. will post 0.14 earnings per share for the current 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.

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