CIBC Private Wealth Group LLC Purchases Shares of 92,536 Flywire Corporation $FLYW

CIBC Private Wealth Group LLC acquired a new stake in Flywire Corporation (NASDAQ:FLYW) during the third quarter, Holdings Channel reports. The institutional investor acquired 92,536 shares of the company’s stock, valued at approximately $1,253,000.

Other institutional investors have also recently modified their holdings of the company. Covestor Ltd boosted its position in Flywire by 217.9% in the third quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after buying an additional 2,216 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Flywire during the 3rd quarter worth approximately $67,000. Daiwa Securities Group Inc. raised its position in Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after buying an additional 2,497 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Flywire during the 2nd quarter valued at approximately $119,000. Finally, Russell Investments Group Ltd. lifted its stake in Flywire by 220.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company’s stock valued at $138,000 after acquiring an additional 7,031 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stephens upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $17.00 to $19.00 in a research note on Friday, January 16th. Royal Bank Of Canada boosted their target price on shares of Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Truist Financial lowered their price target on shares of Flywire from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a report on Thursday, January 22nd. Finally, B. Riley Financial upped their target price on Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.58.

Insider Activity at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 9,009 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $13.05, for a total value of $117,567.45. Following the transaction, the general counsel directly owned 532,962 shares in the company, valued at $6,955,154.10. The trade was a 1.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Voss Capital, Lp purchased 25,000 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was purchased at an average cost of $10.99 per share, with a total value of $274,750.00. Following the purchase, the insider owned 2,300,000 shares in the company, valued at approximately $25,277,000. This trade represents a 1.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 251,112 shares of company stock valued at $3,477,834 and sold 39,315 shares valued at $573,620. 4.40% of the stock is currently owned by insiders.

Flywire Stock Performance

NASDAQ:FLYW opened at $11.91 on Monday. Flywire Corporation has a one year low of $8.20 and a one year high of $15.25. The stock has a market cap of $1.44 billion, a PE ratio of 119.11, a P/E/G ratio of 1.04 and a beta of 1.28. The stock has a 50 day moving average price of $12.44 and a 200 day moving average price of $13.24.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $105.56. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The company had revenue of $157.54 million during the quarter, compared to analysts’ expectations of $144.96 million. During the same period in the prior year, the business earned ($0.12) EPS. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. As a group, analysts predict that Flywire Corporation will post 0.14 earnings per share for the current fiscal year.

Flywire Profile

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.