Federated Hermes Inc. Invests $11.73 Million in Flywire Corporation (NASDAQ:FLYW)

Key Points

• Federated Hermes Inc. acquired 1,235,052 shares of Flywire Corporation during the first quarter, which is valued at approximately $11.7 million, representing about 1.00% of the company's stock.
• Recent analyst forecasts have led to a range of price targets for Flywire, with an average price target of $14.77 and an overall rating of "Hold" from market analysts.
• Flywire's stock saw a decrease of 4.8%, opening at $10.37, and has a market cap of $1.26 billion and a PE ratio of 259.25.

Federated Hermes Inc. purchased a new position in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,235,052 shares of the company's stock, valued at approximately $11,733,000. Federated Hermes Inc. owned approximately 1.00% of Flywire as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in FLYW. Point72 Asia Singapore Pte. Ltd. bought a new stake in Flywire during the 4th quarter valued at approximately $77,000. Dakota Wealth Management boosted its stake in Flywire by 8.7% during the 1st quarter. Dakota Wealth Management now owns 13,334 shares of the company's stock valued at $127,000 after purchasing an additional 1,066 shares during the period. AE Wealth Management LLC bought a new stake in Flywire during the 1st quarter valued at approximately $130,000. Cetera Investment Advisers bought a new stake in Flywire during the 4th quarter valued at approximately $225,000. Finally, State of Wyoming boosted its stake in Flywire by 80.1% during the 4th quarter. State of Wyoming now owns 10,939 shares of the company's stock valued at $226,000 after purchasing an additional 4,865 shares during the period. Institutional investors own 95.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FLYW. The Goldman Sachs Group upped their price target on Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a report on Wednesday, April 23rd. Royal Bank Of Canada cut their price target on Flywire from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $9.00 price target (down previously from $16.00) on shares of Flywire in a report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Flywire in a report on Thursday, July 17th. They issued a "hold" rating and a $12.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $14.77.

Insiders Place Their Bets

In other Flywire news, Director Edwin J. Santos sold 5,000 shares of the stock in a transaction 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 directly owned 16,990 shares in the company, valued at approximately $178,395. This trade represents a 22.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Flywire Price Performance

FLYW stock traded down $0.52 during midday trading on Friday, reaching $10.37. 2,808,608 shares of the company's stock traded hands, compared to its average volume of 2,237,459. The company has a 50-day simple moving average of $11.12 and a two-hundred day simple moving average of $12.21. Flywire Corporation has a 1-year low of $8.20 and a 1-year high of $23.40. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 259.25, a PEG ratio of 2.30 and a beta of 1.27. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share 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 period last year, the firm posted ($0.05) EPS. The business's revenue was up 17.0% on a year-over-year basis. On average, analysts anticipate that Flywire Corporation will post 0.14 earnings per share for the current 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.