Flywire Corporation (NASDAQ:FLYW) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its position in Flywire Corporation (NASDAQ:FLYW) by 97.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,108 shares of the company’s stock after selling 1,149,413 shares during the period. Teacher Retirement System of Texas’ holdings in Flywire were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FLYW. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Flywire in the fourth quarter valued at about $947,000. Swiss National Bank increased its holdings in shares of Flywire by 1.6% in the fourth quarter. Swiss National Bank now owns 218,400 shares of the company’s stock valued at $4,503,000 after purchasing an additional 3,400 shares during the period. Natixis Advisors LLC increased its holdings in shares of Flywire by 7.8% in the fourth quarter. Natixis Advisors LLC now owns 61,920 shares of the company’s stock valued at $1,277,000 after purchasing an additional 4,496 shares during the period. Cibc World Markets Corp acquired a new position in shares of Flywire in the fourth quarter valued at about $233,000. Finally, Intech Investment Management LLC increased its holdings in shares of Flywire by 48.3% in the fourth quarter. Intech Investment Management LLC now owns 47,905 shares of the company’s stock valued at $988,000 after purchasing an additional 15,604 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLYW has been the topic of a number of research reports. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $9.00 price objective (down from $16.00) on shares of Flywire in a report on Monday, April 14th. Truist Financial increased their price objective on Flywire from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank Of Canada lowered their target price on Flywire from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Wolfe Research restated a “peer perform” rating on shares of Flywire in a research note on Wednesday, April 23rd. Finally, B. Riley lowered their target price on Flywire from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, June 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.77.

Insider Transactions at Flywire

In other Flywire news, Director Edwin J. Santos sold 5,466 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $10.04, for a total transaction of $54,878.64. Following the transaction, the director owned 21,990 shares in the company, valued at approximately $220,779.60. This represents a 19.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Flywire Stock Performance

Shares of FLYW stock opened at $10.84 on Friday. The company has a market capitalization of $1.32 billion, a P/E ratio of 271.00, a P/E/G ratio of 1.40 and a beta of 1.28. The business’s 50 day moving average is $11.10 and its two-hundred day moving average is $12.86. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.08. Flywire Corporation has a 12-month low of $8.20 and a 12-month high of $23.40.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $128.70 million for the quarter, compared to the consensus estimate of $124.18 million. Flywire had a return on equity of 1.57% and a net margin of 0.97%. Flywire’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Analysts expect that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Flywire 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.