29,195 Flywire Corporation $FLYW Shares Sold by State of Wyoming

State of Wyoming decreased its stake in shares of Flywire Corporation (NASDAQ:FLYW) by 50.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,185 shares of the company’s stock after selling 29,195 shares during the quarter. State of Wyoming’s holdings in Flywire were worth $511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nykredit A S acquired a new stake in shares of Flywire during the second quarter worth $29,000. Essential Partners LLC increased its position in shares of Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares during the period. IFP Advisors Inc increased its position in shares of Flywire by 168.7% in the 3rd quarter. IFP Advisors Inc now owns 2,483 shares of the company’s stock valued at $43,000 after acquiring an additional 1,559 shares during the period. KBC Group NV acquired a new position in shares of Flywire in the 1st quarter valued at $38,000. Finally, Leonteq Securities AG raised its stake in Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after acquiring an additional 2,577 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 12,156 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total value of $218,686.44. Following the completion of the transaction, the general counsel directly owned 601,022 shares of the company’s stock, valued at approximately $10,812,385.78. This represents a 1.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David King sold 36,900 shares of the firm’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $18.32, for a total value of $676,008.00. Following the completion of the transaction, the insider owned 202,404 shares in the company, valued at $3,708,041.28. The trade was a 15.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 592,618 shares of company stock worth $11,230,341. 5.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on FLYW shares. Seaport Research Partners reaffirmed a “buy” rating and set a $22.00 price target on shares of Flywire in a research report on Monday, August 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $22.00 price target on shares of Flywire in a research note on Wednesday, August 5th. BTIG Research reissued a “buy” rating on shares of Flywire in a report on Thursday, September 10th. UBS Group restated a “neutral” rating on shares of Flywire in a research note on Thursday, September 17th. Finally, Truist Financial lifted their target price on Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.46.

Flywire Price Performance

Shares of Flywire stock opened at $19.49 on Tuesday. The business has a 50 day simple moving average of $18.30 and a two-hundred day simple moving average of $15.55. Flywire Corporation has a 12 month low of $10.55 and a 12 month high of $20.24. The stock has a market capitalization of $2.37 billion, a P/E ratio of 74.96, a PEG ratio of 1.21 and a beta of 1.35.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The firm had revenue of $163.80 million during the quarter, compared to analyst estimates of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. As a group, research analysts anticipate that Flywire Corporation will post 0.40 EPS for the current fiscal year.

Flywire Company Profile

Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.