Flywire Corporation $FLYW Shares Sold by State of Wyoming

State of Wyoming trimmed its position in Flywire Corporation (NASDAQ:FLYW) by 50.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,185 shares of the company’s stock after selling 29,195 shares during the quarter. State of Wyoming’s holdings in Flywire were worth $511,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock valued at $93,834,000 after buying an additional 64,998 shares during the period. Jennison Associates LLC lifted its stake in Flywire by 19.9% in the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock worth $61,679,000 after acquiring an additional 878,248 shares during the period. Wasatch Advisors LP purchased a new stake in Flywire in the second quarter worth about $44,026,000. Dimensional Fund Advisors LP grew its holdings in Flywire by 18.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock worth $21,962,000 after acquiring an additional 295,960 shares in the last quarter. Finally, North Reef Capital Management LP grew its holdings in Flywire by 83.3% during the 1st quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company’s stock worth $12,804,000 after acquiring an additional 499,999 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 12,156 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total transaction of $218,686.44. Following the transaction, the general counsel directly owned 601,022 shares in the company, valued at $10,812,385.78. The trade was a 1.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David King sold 36,900 shares of the company’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $18.32, for a total value of $676,008.00. Following the transaction, the insider directly owned 202,404 shares in the company, valued at $3,708,041.28. This represents a 15.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 592,618 shares of company stock valued at $11,230,341 in the last quarter. 5.00% of the stock is currently owned by corporate insiders.

Flywire Stock Down 1.0%

NASDAQ:FLYW opened at $19.49 on Tuesday. Flywire Corporation has a 52 week low of $10.55 and a 52 week high of $20.24. The firm has a 50 day moving average of $18.30 and a 200 day moving average of $15.55. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 74.96, a PEG ratio of 1.21 and a beta of 1.35.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $163.80 million during the quarter, compared to analyst estimates of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. Flywire’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) earnings per share. As a group, analysts expect that Flywire Corporation will post 0.40 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FLYW shares. Weiss Ratings upgraded shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, September 1st. Stephens initiated coverage on shares of Flywire in a research note on Friday, October 16th. They set an “equal weight” rating and a $20.00 price objective on the stock. Wolfe Research lifted their price objective on shares of Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. B. Riley Financial boosted their price objective on shares of Flywire from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Zacks Research lowered Flywire from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.46.

Flywire Company Profile

Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.