Federated Hermes Inc. Cuts Position in Flywire Corporation $FLYW

Federated Hermes Inc. decreased its position in shares of Flywire Corporation (NASDAQ:FLYW) by 65.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,047 shares of the company’s stock after selling 238,965 shares during the period. Federated Hermes Inc. owned approximately 0.10% of Flywire worth $1,734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLYW. GDS Wealth Management lifted its position in Flywire by 9.0% in the 3rd quarter. GDS Wealth Management now owns 1,039,320 shares of the company’s stock worth $14,072,000 after buying an additional 85,411 shares during the last quarter. Norges Bank bought a new position in shares of Flywire during the 2nd quarter valued at $2,334,000. Walleye Capital LLC boosted its position in Flywire by 206.0% during the second quarter. Walleye Capital LLC now owns 462,665 shares of the company’s stock valued at $5,413,000 after buying an additional 311,448 shares during the period. First Eagle Investment Management LLC bought a new position in shares of Flywire during the second quarter valued at about $1,363,000. Finally, Azora Capital LP purchased a new position in shares of Flywire in the second quarter worth about $33,355,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen cut Flywire from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Weiss Ratings restated a “sell (d)” rating on shares of Flywire in a report on Thursday, January 22nd. Truist Financial set a $17.00 price objective on Flywire in a research report on Tuesday, January 20th. The Goldman Sachs Group raised their price target on Flywire from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, B. Riley raised their price objective on shares of Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Flywire has an average rating of “Hold” and an average target price of $15.73.

Insiders Place Their Bets

In other news, Director Phillip John Riese sold 16,612 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total value of $250,508.96. Following the completion of the sale, the director directly owned 234,493 shares in the company, valued at $3,536,154.44. This represents a 6.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Voss Capital, Lp bought 181,121 shares of the stock in a transaction that occurred on Tuesday, December 30th. The shares were bought at an average price of $14.15 per share, for a total transaction of $2,562,862.15. Following the completion of the transaction, the insider directly owned 9,625,009 shares of the company’s stock, valued at $136,193,877.35. This represents a 1.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 38,426 shares of company stock worth $567,215. Company insiders own 4.40% of the company’s stock.

Flywire Trading Down 1.2%

Flywire stock opened at $11.15 on Thursday. The business has a 50-day simple moving average of $13.92 and a two-hundred day simple moving average of $13.25. The company has a market cap of $1.36 billion, a P/E ratio of -557.22, a P/E/G ratio of 1.28 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 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 posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Analysts predict that Flywire Corporation will post 0.14 EPS for the current year.

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.