Magnetar Financial LLC Makes New Investment in Flywire Co. (NASDAQ:FLYW)

Magnetar Financial LLC bought a new position in shares of Flywire Co. (NASDAQ:FLYW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,755 shares of the company’s stock, valued at approximately $242,000.

A number of other institutional investors also recently modified their holdings of FLYW. Global Retirement Partners LLC bought a new position in Flywire during the 4th quarter valued at approximately $30,000. Arcadia Investment Management Corp MI bought a new position in shares of Flywire during the fourth quarter valued at approximately $48,000. Advisors Asset Management Inc. lifted its stake in Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after acquiring an additional 539 shares during the period. KBC Group NV lifted its stake in Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after acquiring an additional 1,911 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Flywire during the 4th quarter valued at $104,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Citigroup cut their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut Flywire from a “buy” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their price objective on Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.23.

Flywire Stock Performance

Shares of Flywire stock opened at $9.96 on Monday. The company has a 50-day simple moving average of $16.18 and a two-hundred day simple moving average of $18.07. The stock has a market capitalization of $1.23 billion, a PE ratio of 66.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. Flywire Co. has a 52-week low of $8.62 and a 52-week high of $25.27.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. As a group, equities research analysts forecast that Flywire Co. will post 0.14 EPS for the current fiscal year.

Insider Activity

In related news, Director Gretchen Howard bought 8,889 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the purchase, the director now owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.