Flywire Co. (NASDAQ:FLYW) Shares Purchased by RiverPark Advisors LLC

RiverPark Advisors LLC raised its holdings in Flywire Co. (NASDAQ:FLYW) by 360.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,726 shares of the company’s stock after buying an additional 11,531 shares during the quarter. RiverPark Advisors LLC’s holdings in Flywire were worth $365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLYW. Quest Partners LLC purchased a new position in Flywire in the 4th quarter worth approximately $52,000. Assetmark Inc. raised its position in shares of Flywire by 16.9% during the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after acquiring an additional 733 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Flywire during the 4th quarter valued at approximately $176,000. OneAscent Financial Services LLC acquired a new stake in shares of Flywire during the 4th quarter valued at approximately $212,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Flywire during the 4th quarter worth $243,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

FLYW has been the subject of a number of recent research reports. William Blair restated an “outperform” rating on shares of Flywire in a research note on Wednesday, May 8th. BTIG Research decreased their price target on Flywire from $34.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Wedbush reissued a “neutral” rating and issued a $18.00 price target on shares of Flywire in a research note on Thursday, May 23rd. The Goldman Sachs Group decreased their price target on Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Wells Fargo & Company decreased their price target on Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.86.

Flywire Stock Performance

Shares of FLYW stock traded up $0.18 during mid-day trading on Tuesday, reaching $16.48. The company’s stock had a trading volume of 1,552,307 shares, compared to its average volume of 1,558,964. Flywire Co. has a 1-year low of $15.19 and a 1-year high of $35.80. The company has a market cap of $2.05 billion, a P/E ratio of -149.80, a PEG ratio of 28.96 and a beta of 0.98. The firm’s 50-day moving average is $17.08 and its two-hundred day moving average is $20.90.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The firm had revenue of $114.10 million during the quarter, compared to the consensus estimate of $107.81 million. During the same period in the previous year, the company posted ($0.03) EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts anticipate that Flywire Co. will post 0.01 EPS for the current year.

Flywire Company 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.