Bank of New York Mellon Corp Has $3.47 Million Position in Flywire Corporation (NASDAQ:FLYW)

Bank of New York Mellon Corp lessened its position in Flywire Corporation (NASDAQ:FLYW - Free Report) by 62.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,682 shares of the company's stock after selling 615,681 shares during the period. Bank of New York Mellon Corp owned 0.30% of Flywire worth $3,474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. acquired a new stake in shares of Flywire in the fourth quarter valued at about $632,000. Sei Investments Co. increased its stake in shares of Flywire by 38.4% in the fourth quarter. Sei Investments Co. now owns 110,144 shares of the company's stock valued at $2,271,000 after buying an additional 30,572 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Flywire in the fourth quarter valued at about $493,000. Vanguard Group Inc. increased its stake in shares of Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock valued at $249,238,000 after buying an additional 781,711 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Flywire by 94.6% in the fourth quarter. JPMorgan Chase & Co. now owns 458,213 shares of the company's stock valued at $9,448,000 after buying an additional 222,804 shares during the period. Institutional investors and hedge funds own 95.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FLYW shares. B. Riley decreased their price target on Flywire from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Royal Bank Of Canada decreased their price target on Flywire from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group increased their price target on Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on Flywire in a research note on Thursday, July 17th. They issued a "hold" rating and a $12.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on Flywire from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $14.77.

Insider Buying and Selling

In other news, Director Edwin J. Santos sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $10.50, for a total value of $52,500.00. Following the transaction, the director owned 16,990 shares in the company, valued at $178,395. This trade represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.40% of the company's stock.

Flywire Stock Down 1.0%

Shares of NASDAQ:FLYW opened at $11.69 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.02 and a current ratio of 2.02. Flywire Corporation has a 52-week low of $8.20 and a 52-week high of $23.40. The business's 50 day simple moving average is $11.14 and its two-hundred day simple moving average is $12.53. The firm has a market cap of $1.42 billion, a P/E ratio of 292.25, a PEG ratio of 2.01 and a beta of 1.28.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. Flywire had a return on equity of 1.57% and a net margin of 0.97%. The firm had revenue of $128.70 million during the quarter, compared to analysts' expectations of $124.18 million. During the same quarter last year, the firm posted ($0.05) earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts forecast that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.

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