State of Wyoming Acquires 41,292 Shares of Flywire Corporation $FLYW

State of Wyoming lifted its holdings in Flywire Corporation (NASDAQ:FLYW) by 72.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 98,409 shares of the company’s stock after buying an additional 41,292 shares during the quarter. State of Wyoming’s holdings in Flywire were worth $1,145,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in Flywire during the 4th quarter worth approximately $32,000. KBC Group NV acquired a new position in shares of Flywire in the first quarter valued at approximately $38,000. Leonteq Securities AG boosted its holdings in shares of Flywire by 267.6% in the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after buying an additional 2,577 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after acquiring an additional 2,497 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Flywire during the first quarter worth $92,000. 95.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. BTIG Research reiterated a “buy” rating and set a $20.00 target price on shares of Flywire in a report on Tuesday. Morgan Stanley lifted their price target on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. New Street Research set a $16.00 price target on Flywire in a report on Thursday, May 21st. Finally, Zacks Research lowered Flywire from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.77.

Insider Transactions at Flywire

In other news, COO Rob Orgel sold 178,980 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $17.00, for a total value of $3,042,660.00. Following the completion of the transaction, the chief operating officer owned 959,061 shares in the company, valued at $16,304,037. This trade represents a 15.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Phillip John Riese sold 5,000 shares of Flywire stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.43, for a total value of $77,150.00. Following the completion of the sale, the director directly owned 234,493 shares in the company, valued at approximately $3,618,226.99. This represents a 2.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 410,391 shares of company stock worth $6,700,493. 5.00% of the stock is owned by insiders.

Flywire Stock Down 5.3%

Shares of FLYW opened at $16.54 on Thursday. Flywire Corporation has a twelve month low of $10.10 and a twelve month high of $18.98. The stock has a market capitalization of $2.04 billion, a P/E ratio of 71.91, a P/E/G ratio of 1.78 and a beta of 1.32. The company has a 50 day moving average of $16.48 and a 200-day moving average of $14.18.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $170.24 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, sell-side analysts anticipate that Flywire Corporation will post 0.28 earnings per share for the current fiscal year.

Flywire Company 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.