RiverPark Advisors LLC Purchases 11,531 Shares of Flywire Co. (NASDAQ:FLYW)

RiverPark Advisors LLC boosted its stake in Flywire Co. (NASDAQ:FLYW) by 360.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Flywire by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock worth $249,124,000 after purchasing an additional 243,523 shares during the period. Westfield Capital Management Co. LP increased its stake in Flywire by 24.8% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock worth $101,553,000 after purchasing an additional 872,619 shares during the period. Eventide Asset Management LLC increased its stake in Flywire by 3.2% in the 4th quarter. Eventide Asset Management LLC now owns 4,203,264 shares of the company’s stock worth $97,306,000 after purchasing an additional 131,996 shares during the period. Capital International Investors increased its stake in Flywire by 21.8% in the 4th quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock worth $62,819,000 after purchasing an additional 485,654 shares during the period. Finally, Jennison Associates LLC increased its stake in Flywire by 129.7% in the 1st quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock worth $46,170,000 after purchasing an additional 1,050,924 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on FLYW. Royal Bank of Canada decreased their price target on Flywire from $41.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. William Blair reissued an “outperform” rating on shares of Flywire in a research note on Wednesday, May 8th. Wedbush reissued a “neutral” rating and set a $18.00 target price on shares of Flywire in a research note on Thursday, May 23rd. UBS Group reduced their target price on Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Citigroup reduced their target price on Flywire from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.86.

Flywire Price Performance

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

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