Blair William & Co. IL Reduces Holdings in Flywire Corporation (NASDAQ:FLYW)

Key Points

• Blair William & Co. IL significantly reduced its stake in Flywire Corporation by selling 1,699,891 shares, lowering its ownership to 151,089 shares, which accounts for 0.12% of the company.
• Institutional investors collectively own 95.90% of Flywire's stock, with notable increases in holdings by firms such as Janney Montgomery Scott and Ensign Peak Advisors.
• Flywire's stock performance has been volatile, with a 52-week range between $8.20 and $23.40, and the company recently reported a quarterly revenue of $127.50 million, which exceeded analysts' expectations.

Blair William & Co. IL trimmed its stake in Flywire Corporation (NASDAQ:FLYW - Free Report) by 91.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,089 shares of the company's stock after selling 1,699,891 shares during the period. Blair William & Co. IL owned about 0.12% of Flywire worth $1,435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLYW. XTX Topco Ltd increased its position in shares of Flywire by 21.9% in the first quarter. XTX Topco Ltd now owns 34,587 shares of the company's stock valued at $329,000 after acquiring an additional 6,224 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Flywire during the first quarter worth approximately $607,000. Federated Hermes Inc. acquired a new stake in Flywire during the first quarter worth approximately $11,733,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Flywire by 34.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,709 shares of the company's stock valued at $406,000 after purchasing an additional 10,840 shares in the last quarter. Finally, Norwood Investment Partners LP boosted its holdings in shares of Flywire by 2.5% during the 1st quarter. Norwood Investment Partners LP now owns 445,546 shares of the company's stock valued at $4,233,000 after acquiring an additional 11,000 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company cut their target price on Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. B. Riley cut their target price on Flywire from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Flywire in a research note on Thursday, July 17th. They issued a "hold" rating and a $12.00 price objective on the stock. Royal Bank Of Canada dropped their target price on Flywire from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $13.71.

Insiders Place Their Bets

In other news, Director Edwin J. Santos sold 5,466 shares of Flywire stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.04, for a total value of $54,878.64. Following the sale, the director owned 21,990 shares in the company, valued at $220,779.60. This trade represents a 19.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.40% of the company's stock.

Flywire Stock Up 1.0%

NASDAQ:FLYW traded up $0.12 during midday trading on Tuesday, reaching $11.78. 2,500,482 shares of the stock traded hands, compared to its average volume of 2,602,067. Flywire Corporation has a 12-month low of $8.20 and a 12-month high of $23.40. The business has a 50-day moving average of $11.21 and a two-hundred day moving average of $11.87. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a market capitalization of $1.43 billion, a PE ratio of 235.60, a price-to-earnings-growth ratio of 2.21 and a beta of 1.27.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Flywire had a return on equity of 1.94% and a net margin of 1.27%. The firm had revenue of $127.50 million during the quarter, compared to analysts' expectations of $119.65 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. The company's revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities analysts forecast that Flywire Corporation will post 0.14 earnings per share for the current fiscal year.

Flywire 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.