Rock Creek Group LP Acquires New Stake in Flywire Co. (NASDAQ:FLYW)

Rock Creek Group LP purchased a new position 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 (SEC). The institutional investor purchased 50,939 shares of the company's stock, valued at approximately $1,050,000.

Several other large investors have also bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in shares of Flywire during the fourth quarter valued at approximately $30,000. Arcadia Investment Management Corp MI bought a new position in shares of Flywire in the fourth quarter worth approximately $48,000. Advisors Asset Management Inc. boosted its holdings in shares of Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock valued at $66,000 after acquiring an additional 539 shares during the last quarter. KBC Group NV grew 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 period. Finally, Venturi Wealth Management LLC bought a new position in Flywire during the fourth quarter valued at approximately $104,000. 95.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FLYW. Wells Fargo & Company cut their price target on Flywire from $20.00 to $16.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a "buy" rating to a "hold" rating and reduced their price target for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating for the company in a research 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 on the stock in a research report on Monday, March 24th. Finally, Morgan Stanley dropped their price target on Flywire from $21.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Flywire currently has a consensus rating of "Hold" and an average target price of $17.92.

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Flywire Trading Down 4.6 %

Shares of FLYW traded down $0.45 during midday trading on Thursday, hitting $9.38. 561,643 shares of the company's stock traded hands, compared to its average volume of 1,608,806. Flywire Co. has a 1 year low of $8.62 and a 1 year high of $24.33. The firm's fifty day moving average is $14.62 and its 200-day moving average is $17.64. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 62.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

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 analysts' consensus estimates of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $112.80 million for the quarter, compared to analysts' expectations of $118.85 million. On average, equities research analysts anticipate that Flywire Co. will post 0.14 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the transaction, the director now directly owns 30,770 shares of the company's stock, 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 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.