Public Employees Retirement System of Ohio Increases Stock Position in Flywire Co. (NASDAQ:FLYW)

Public Employees Retirement System of Ohio grew its stake in Flywire Co. (NASDAQ:FLYW - Free Report) by 72.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,797 shares of the company's stock after purchasing an additional 60,210 shares during the period. Public Employees Retirement System of Ohio owned about 0.11% of Flywire worth $2,944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FLYW. Raymond James Financial Inc. acquired a new stake in Flywire in the 4th quarter worth $35,579,000. Voss Capital LP acquired a new stake in shares of Flywire during the 4th quarter valued at about $30,621,000. Teacher Retirement System of Texas acquired a new position in Flywire in the fourth quarter valued at about $24,363,000. Jennison Associates LLC lifted its position in shares of Flywire by 53.0% during the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company's stock worth $70,238,000 after purchasing an additional 1,179,562 shares in the last quarter. Finally, Wasatch Advisors LP lifted its position in shares of Flywire by 62.1% during the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company's stock worth $56,533,000 after purchasing an additional 1,049,888 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

FLYW has been the topic of a number of research reports. Wolfe Research reiterated a "peer perform" rating on shares of Flywire in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a "buy" rating to a "hold" rating and dropped their price target for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. UBS Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. The Goldman Sachs Group boosted their price target on shares of Flywire from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, B. Riley reaffirmed a "buy" rating and issued a $17.00 target price (down previously from $29.00) on shares of Flywire in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.15.

Flywire Stock Down 2.9%

FLYW traded down $0.30 during trading on Wednesday, hitting $10.00. 2,895,065 shares of the company traded hands, compared to its average volume of 1,802,861. The firm has a market cap of $1.22 billion, a P/E ratio of 66.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. The stock's fifty day moving average is $9.87 and its 200 day moving average is $15.12. Flywire Co. has a one year low of $8.20 and a one year high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $128.70 million during the quarter, compared to analyst estimates of $124.18 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) earnings per share. On average, equities research analysts forecast that Flywire Co. 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.