Arizona State Retirement System Grows Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Arizona State Retirement System grew its stake in Flywire Co. (NASDAQ:FLYW) by 20.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 29,888 shares of the company’s stock after acquiring an additional 5,086 shares during the quarter. Arizona State Retirement System’s holdings in Flywire were worth $692,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. American International Group Inc. grew its stake in shares of Flywire by 1.6% in the 4th quarter. American International Group Inc. now owns 26,969 shares of the company’s stock valued at $660,000 after buying an additional 420 shares during the period. Primecap Management Co. CA grew its holdings in shares of Flywire by 2.7% during the 3rd quarter. Primecap Management Co. CA now owns 19,100 shares of the company’s stock worth $609,000 after purchasing an additional 500 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Flywire by 5.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 11,116 shares of the company’s stock worth $326,000 after purchasing an additional 586 shares during the last quarter. RiverPark Advisors LLC raised its holdings in Flywire by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after buying an additional 589 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Flywire by 76.3% in the third quarter. Advisors Asset Management Inc. now owns 1,742 shares of the company’s stock valued at $56,000 after buying an additional 754 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Upgrades and Downgrades

FLYW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Royal Bank of Canada upped their price target on Flywire from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group lifted their price objective on Flywire from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Flywire in a research note on Tuesday, February 6th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Truist Financial lifted their target price on Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and an average target price of $34.27.

Insider Activity at Flywire

In other Flywire news, CTO David R. King sold 9,366 shares of Flywire stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $255,691.80. Following the completion of the sale, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Flywire news, CEO Michael Massaro sold 13,043 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the sale, the chief executive officer now owns 1,655,673 shares of the company’s stock, valued at $39,852,049.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO David R. King sold 9,366 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the completion of the transaction, the chief technology officer now owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The disclosure for this sale can be found here. Insiders have sold 141,800 shares of company stock valued at $3,743,582 over the last quarter. 5.00% of the stock is owned by insiders.

Flywire Stock Performance

FLYW stock opened at $20.92 on Friday. The company’s 50 day moving average price is $24.19 and its 200 day moving average price is $24.06. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -232.42, a PEG ratio of 8.05 and a beta of 1.02. Flywire Co. has a fifty-two week low of $18.65 and a fifty-two week high of $35.80.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The company had revenue of $100.55 million for the quarter, compared to the consensus estimate of $88.52 million. During the same period in the prior year, the firm posted ($0.01) EPS. The company’s quarterly revenue was up 37.6% compared to the same quarter last year. Equities analysts forecast that Flywire Co. will post 0.05 EPS for the current fiscal year.

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.