Creative Planning Has $487,000 Holdings in Flywire Co. (NASDAQ:FLYW)

Creative Planning increased its stake in shares of Flywire Co. (NASDAQ:FLYW) by 36.5% in the third quarter, Holdings Channel reports. The firm owned 29,685 shares of the company’s stock after buying an additional 7,940 shares during the quarter. Creative Planning’s holdings in Flywire were worth $487,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Quarry LP bought a new stake in shares of Flywire in the second quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of Flywire in the first quarter valued at about $46,000. Advisors Asset Management Inc. lifted 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. Daiwa Securities Group Inc. bought a new stake in Flywire during the second quarter worth about $64,000. Finally, SG Americas Securities LLC bought a new stake in Flywire during the third quarter worth about $149,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $17.95 on Thursday. The company has a market capitalization of $2.25 billion, a P/E ratio of -256.43, a P/E/G ratio of 7.48 and a beta of 0.95. Flywire Co. has a 1 year low of $15.19 and a 1 year high of $31.54. The business’s 50 day simple moving average is $17.11 and its 200 day simple moving average is $17.47.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The firm had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that Flywire Co. will post 0.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $30.00 target price on shares of Flywire in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price objective on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada dropped their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Citigroup dropped their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.07.

Insider Activity

In related news, CTO David R. King sold 3,353 shares of the firm’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 transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at $11,188,119.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Flywire news, COO Rob Orgel sold 3,824 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the sale, the chief operating officer now directly owns 473,648 shares in the company, valued at approximately $8,198,846.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO David R. King sold 3,353 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the sale, the chief technology officer now owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,966 shares of company stock worth $480,143. Insiders own 3.90% of the company’s stock.

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.