Flywire Corporation $FLYW Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in Flywire Corporation (NASDAQ:FLYW) by 37.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 301,604 shares of the company’s stock after purchasing an additional 82,870 shares during the period. New York State Common Retirement Fund owned approximately 0.25% of Flywire worth $4,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of FLYW. Nisa Investment Advisors LLC grew its stake in shares of Flywire by 194.9% in 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 period. Covestor Ltd lifted its stake in Flywire by 217.9% during the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock worth $43,000 after acquiring an additional 2,216 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Flywire by 78.4% in 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 period. CWM LLC boosted its position in Flywire by 76.3% in the 3rd quarter. CWM LLC now owns 11,364 shares of the company’s stock valued at $154,000 after buying an additional 4,917 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in Flywire in the third quarter valued at $67,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Flywire in a research note on Thursday, January 22nd. Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $17.00 to $19.00 in a report on Friday, January 16th. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. B. Riley Financial boosted their price target on Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of Flywire from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Flywire presently has an average rating of “Hold” and an average price target of $15.73.

Flywire Price Performance

Flywire stock opened at $11.25 on Friday. The firm has a market capitalization of $1.37 billion, a PE ratio of -562.22, a P/E/G ratio of 1.23 and a beta of 1.28. Flywire Corporation has a 52 week low of $8.20 and a 52 week high of $21.31. The firm’s 50-day simple moving average is $13.80 and its 200 day simple moving average is $13.24. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.02.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $194.10 million during the quarter, compared to analysts’ expectations of $180.07 million. Flywire had a negative net margin of 0.42% and a positive return on equity of 0.80%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. On average, equities research analysts predict that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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, with a total value of $2,562,862.15. Following the completion of the acquisition, the insider directly owned 9,625,009 shares in the company, valued at $136,193,877.35. The trade was a 1.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip John Riese sold 16,612 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total value of $250,508.96. Following the completion of the sale, the director owned 234,493 shares in the company, valued at $3,536,154.44. This represents a 6.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,426 shares of company stock worth $567,215 in the last ninety days. 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.