Twenty Acre Capital LP Acquires 68,700 Shares of Flywire Co. (NASDAQ:FLYW)

Twenty Acre Capital LP increased its holdings in Flywire Co. (NASDAQ:FLYW) by 21.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 390,400 shares of the company’s stock after purchasing an additional 68,700 shares during the period. Flywire makes up 5.6% of Twenty Acre Capital LP’s portfolio, making the stock its 10th biggest position. Twenty Acre Capital LP owned about 0.31% of Flywire worth $6,399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in shares of Flywire by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after buying an additional 954 shares during the period. Public Employees Retirement Association of Colorado bought a new position in shares of Flywire during the first quarter valued at $358,000. Harbor Capital Advisors Inc. boosted its stake in shares of Flywire by 139.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company’s stock valued at $1,949,000 after purchasing an additional 69,304 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of Flywire in the 2nd quarter worth about $199,000. Finally, Gilliland Jeter Wealth Management LLC increased its position in shares of Flywire by 104.3% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 11,801 shares of the company’s stock worth $193,000 after purchasing an additional 6,025 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Insider Transactions at Flywire

In related news, CEO Michael Massaro sold 8,629 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $155,667.16. Following the sale, the chief executive officer now directly owns 1,739,351 shares in the company, valued at $31,377,892.04. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO David R. King sold 3,504 shares of Flywire stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the transaction, the chief technology officer now directly owns 616,680 shares in the company, valued at $10,674,730.80. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock worth $480,143 in the last three months. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FLYW shares. BTIG Research reduced their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. B. Riley restated a “buy” rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Royal Bank of Canada decreased their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $18.00 in a report on Friday, October 11th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and an average target price of $24.86.

Flywire Stock Performance

Shares of FLYW stock opened at $22.71 on Friday. The firm’s 50 day moving average price is $18.58 and its two-hundred day moving average price is $17.74. The stock has a market cap of $2.83 billion, a PE ratio of 151.40, a PEG ratio of 4.49 and a beta of 0.95. Flywire Co. has a 52-week low of $15.19 and a 52-week high of $31.54.

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.