New York State Common Retirement Fund Boosts Stake in Flywire Corporation $FLYW

New York State Common Retirement Fund lifted its holdings in Flywire Corporation (NASDAQ:FLYW) by 37.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,604 shares of the company’s stock after acquiring an additional 82,870 shares during the period. New York State Common Retirement Fund’s holdings in Flywire were worth $4,084,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in shares of Flywire by 194.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock valued at $38,000 after buying an additional 2,167 shares during the last quarter. Covestor Ltd increased its stake in Flywire by 217.9% during the third quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after purchasing an additional 2,216 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Flywire in the 3rd quarter worth about $67,000. Finally, CWM LLC grew its holdings in shares of Flywire by 850.9% during the second quarter. CWM LLC now owns 6,447 shares of the company’s stock valued at $75,000 after purchasing an additional 5,769 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on FLYW. Stephens upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $19.00 in a research note on Friday, January 16th. The Goldman Sachs Group upped their price target on shares of Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Citigroup upgraded shares of Flywire to a “hold” rating in a report on Thursday, October 23rd. Truist Financial set a $17.00 price target on Flywire in a research note on Tuesday, January 20th. Finally, Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Flywire currently has a consensus rating of “Hold” and an average target price of $15.73.

Flywire Stock Up 3.8%

FLYW stock opened at $11.25 on Friday. The firm has a market cap of $1.37 billion, a PE ratio of -562.22, a PEG ratio of 1.23 and a beta of 1.28. Flywire Corporation has a 1 year low of $8.20 and a 1 year high of $21.31. The company has a fifty day simple moving average of $13.80 and a 200 day simple moving average of $13.24. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.02.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. Flywire had a positive return on equity of 0.80% and a negative net margin of 0.42%.The business had revenue of $194.10 million during the quarter, compared to the consensus estimate of $180.07 million. During the same quarter last year, the company earned $0.30 EPS. Flywire’s revenue was up 27.6% on a year-over-year basis. Sell-side analysts anticipate that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Insider Activity at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 13,327 shares of Flywire stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $15.01, for a total transaction of $200,038.27. Following the completion of the sale, the general counsel owned 374,933 shares of the company’s stock, valued at approximately $5,627,744.33. The trade was a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Voss Capital, Lp purchased 181,121 shares of the business’s stock in a transaction dated Tuesday, December 30th. The stock was bought at an average cost of $14.15 per share, for a total transaction of $2,562,862.15. Following the purchase, the insider owned 9,625,009 shares in the company, valued at $136,193,877.35. This trade represents a 1.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 38,426 shares of company stock worth $567,215 over the last ninety days. Company insiders own 4.40% of the company’s stock.

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.