Curi RMB Capital LLC Purchases New Position in Flywire Co. (NASDAQ:FLYW)

Curi RMB Capital LLC bought a new position in shares of Flywire Co. (NASDAQ:FLYW) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 69,720 shares of the company’s stock, valued at approximately $1,143,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Flywire in the 1st quarter worth approximately $363,000. Swiss National Bank lifted its position in shares of Flywire by 0.8% during the 1st quarter. Swiss National Bank now owns 212,300 shares of the company’s stock valued at $5,267,000 after acquiring an additional 1,600 shares during the period. Headlands Technologies LLC acquired a new position in shares of Flywire during the 1st quarter valued at $46,000. ProShare Advisors LLC raised its holdings in Flywire by 8.5% during the first quarter. ProShare Advisors LLC now owns 19,104 shares of the company’s stock worth $474,000 after buying an additional 1,504 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Flywire by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after buying an additional 100,704 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FLYW has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. B. Riley restated a “buy” rating and issued a $30.00 price objective on shares of Flywire in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Citigroup cut their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.86.

Insider Activity at Flywire

In other news, CTO David R. King sold 3,353 shares of the company’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 completion of the sale, the chief technology officer now directly owns 620,184 shares in the company, valued at $11,188,119.36. This represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Massaro sold 8,629 shares of the company’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 $155,667.16. Following the sale, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at approximately $31,377,892.04. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is currently owned by company insiders.

Flywire Stock Performance

NASDAQ FLYW opened at $21.93 on Friday. Flywire Co. has a fifty-two week low of $15.19 and a fifty-two week high of $31.54. The stock’s fifty day moving average is $17.63 and its two-hundred day moving average is $17.52. The firm has a market capitalization of $2.75 billion, a P/E ratio of 146.20, a price-to-earnings-growth ratio of 5.41 and a beta of 0.95.

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.