Pekin Hardy Strauss Inc. has made a significant investment in Flywire Corporation by acquiring 36,000 shares during the second quarter of 2023. This new stake, valued at approximately $421,000, was disclosed in a recent filing with the U.S. Securities and Exchange Commission (SEC). This move reflects a broader trend, as several other institutional investors have also engaged in buying and selling shares of Flywire (NASDAQ: FLYW) over the same period.
Among the recent transactions, Bryce Point Capital LLC established a new position in Flywire valued at around $176,000. Teacher Retirement System of Texas notably increased its stake by 59.7%, now owning 51,267 shares worth $600,000 after acquiring an additional 19,159 shares. Similarly, Y Intercept Hong Kong Ltd raised its holdings by 18.5%, resulting in ownership of 136,621 shares valued at $1,598,000. In another significant move, Nisa Investment Advisors LLC boosted its position by an astonishing 194.9%, now holding 3,279 shares worth $38,000. Currently, institutional investors and hedge funds collectively own 95.90% of Flywire’s outstanding stock.
Stock Performance and Analyst Ratings
On the trading front, Flywire’s shares opened at $13.56 on Friday, October 20, 2023. The stock has experienced a 52-week low of $8.20 and a high of $23.40. Financial metrics reveal a market capitalization of $1.66 billion, a debt-to-equity ratio of 0.08, and a price-to-earnings ratio of -677.66. The company also has a fifty-day moving average of $13.28 and a two-hundred day moving average of $11.91.
Several research firms have recently provided insights into Flywire’s stock. Truist Financial increased its price objective from $13.00 to $15.00, issuing a “buy” rating on October 24, 2023. In contrast, Deutsche Bank Aktiengesellschaft initiated coverage with a “hold” rating and a price target of $12.00. Stephens maintained an “equal weight” rating with a price objective of $13.00, while Zacks Research downgraded the stock from “hold” to “strong sell.” Overall, five analysts have rated Flywire with a “buy” rating, nine maintain a “hold” stance, and three have issued “sell” ratings. The consensus rating stands at “hold,” with a target price of $14.73 according to MarketBeat.com.
About Flywire Corporation
Flywire Corporation operates as a payments enablement and software company across various sectors. Its platform facilitates payment processing through multiple currencies and types, enhancing the payment experience for clients and their customers. Flywire’s system enables seamless transactions with alternative payment methods, including Alipay, Boleto, PayPal, and Trustly.
For those interested in the latest developments and performance of Flywire Corporation, additional information can be accessed through relevant financial news outlets and investment platforms.
