Flywire Corporation $FLYW Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in Flywire Corporation (NASDAQ:FLYW - Free Report) by 19.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 833,871 shares of the company's stock after selling 207,440 shares during the quarter. Bank of America Corp DE owned approximately 0.68% of Flywire worth $9,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FLYW. Global Retirement Partners LLC bought a new position in Flywire in the 4th quarter worth about $32,000. KBC Group NV acquired a new stake in shares of Flywire in the first quarter valued at approximately $38,000. Leonteq Securities AG increased its position in Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock valued at $41,000 after acquiring an additional 2,577 shares during the period. Daiwa Securities Group Inc. increased its position in Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock valued at $66,000 after acquiring an additional 2,497 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new stake in Flywire during the 1st quarter valued at $92,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Flywire Price Performance

NASDAQ FLYW opened at $19.54 on Monday. Flywire Corporation has a 12 month low of $10.55 and a 12 month high of $19.59. The company has a market capitalization of $2.38 billion, a P/E ratio of 75.16, a PEG ratio of 1.25 and a beta of 1.34. The company's 50 day simple moving average is $17.40 and its 200 day simple moving average is $14.75.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The company's quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) earnings per share. On average, analysts anticipate that Flywire Corporation will post 0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FLYW shares. New Street Research set a $16.00 price target on Flywire in a research report on Thursday, May 21st. Weiss Ratings lowered Flywire from a "hold (c)" rating to a "sell (d+)" rating in a report on Thursday, August 6th. Raymond James Financial restated an "outperform" rating and set a $22.00 price objective on shares of Flywire in a research note on Wednesday, May 27th. Seaport Research Partners reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Flywire in a report on Monday, August 17th. Finally, Zacks Research lowered shares of Flywire from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $19.54.

Insider Buying and Selling at Flywire

In other news, General Counsel Peter Butterfield sold 6,528 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $15.08, for a total transaction of $98,442.24. Following the sale, the general counsel directly owned 652,152 shares of the company's stock, valued at $9,834,452.16. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Kansal sold 3,650 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $16.96, for a total value of $61,904.00. Following the sale, the insider directly owned 500,670 shares of the company's stock, valued at approximately $8,491,363.20. This represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 409,389 shares of company stock worth $6,888,120. 5.00% of the stock is owned by insiders.

Flywire Profile

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.

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