SG Americas Securities LLC Sells 32,449 Shares of Flywire Corporation $FLYW

SG Americas Securities LLC cut its stake in Flywire Corporation (NASDAQ:FLYW) by 41.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,738 shares of the company’s stock after selling 32,449 shares during the period. SG Americas Securities LLC’s holdings in Flywire were worth $532,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in Flywire in the fourth quarter valued at about $593,000. Rockefeller Capital Management L.P. grew its stake in Flywire by 29.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 36,033 shares of the company’s stock worth $510,000 after buying an additional 8,112 shares in the last quarter. Invesco Ltd. increased its holdings in Flywire by 18.3% in the 4th quarter. Invesco Ltd. now owns 176,827 shares of the company’s stock valued at $2,504,000 after buying an additional 27,296 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Flywire in the 4th quarter valued at approximately $166,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Flywire by 43.8% during the 4th quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock worth $68,367,000 after acquiring an additional 1,470,011 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 several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Weiss Ratings upgraded Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. New Street Research set a $16.00 target price on Flywire in a report on Thursday, May 21st. Raymond James Financial reiterated an “outperform” rating and issued a $22.00 price target on shares of Flywire in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $17.00 price objective on shares of Flywire in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.07.

Flywire Trading Up 1.2%

NASDAQ:FLYW opened at $18.55 on Wednesday. The stock has a market cap of $2.29 billion, a P/E ratio of 80.65, a price-to-earnings-growth ratio of 1.87 and a beta of 1.32. The stock’s 50-day moving average is $15.97 and its 200-day moving average is $13.92. Flywire Corporation has a 1-year low of $10.10 and a 1-year high of $18.92.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The business had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same quarter last year, the business earned ($0.03) EPS. The firm’s quarterly revenue was up 40.9% on a year-over-year basis. As a group, equities analysts forecast that Flywire Corporation will post 0.28 EPS for the current year.

Insider Transactions at Flywire

In other news, insider Mohit Kansal sold 54,543 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.15, for a total transaction of $826,326.45. Following the completion of the transaction, the insider owned 504,320 shares of the company’s stock, valued at approximately $7,640,448. This trade represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Rob Orgel sold 178,980 shares of Flywire stock in a transaction on Monday, June 1st. The stock was sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the transaction, the chief operating officer owned 959,061 shares in the company, valued at approximately $16,304,037. This trade represents a 15.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 410,391 shares of company stock worth $6,700,493. 5.00% of the stock is currently owned by insiders.

About Flywire

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.