RiverPark Advisors LLC Has $222,000 Position in Flywire Co. (NASDAQ:FLYW)

RiverPark Advisors LLC lowered its stake in Flywire Co. (NASDAQ:FLYW) by 16.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,539 shares of the company’s stock after selling 2,603 shares during the period. RiverPark Advisors LLC’s holdings in Flywire were worth $222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new stake in shares of Flywire in the second quarter valued at approximately $26,000. Headlands Technologies LLC increased its holdings in shares of Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after purchasing an additional 1,509 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Flywire in the second quarter valued at approximately $64,000. Advisors Asset Management Inc. increased its holdings in shares of Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after purchasing an additional 954 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Flywire in the third quarter valued at approximately $149,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Stock Up 0.7 %

Shares of NASDAQ FLYW opened at $21.93 on Friday. The company’s fifty day moving average is $17.63 and its 200-day moving average is $17.50. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 146.20, a P/E/G ratio of 4.23 and a beta of 0.95. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $31.54.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $31,912.76. Following the sale, the general counsel now directly owns 273,517 shares in the company, valued at $4,934,246.68. This trade represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Rob Orgel sold 3,824 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the sale, the chief operating officer now owns 473,648 shares in the company, valued at approximately $8,198,846.88. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,966 shares of company stock worth $480,143 over the last ninety days. Company insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FLYW shares. Royal Bank of Canada lowered their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. BTIG Research reduced their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. B. Riley reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. Finally, Citigroup reduced their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Flywire has an average rating of “Moderate Buy” and a consensus price target of $24.86.

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.