Flywire Corporation $FLYW Shares Sold by Temasek Holdings Private Ltd

Key Points

• Temasek Holdings reduced its Flywire stake by 3.4% in the first quarter, but still owned about 5.09% of the company after the sale, valued at roughly $71.9 million.
• Flywire’s latest quarterly results beat expectations, with EPS of $0.10 versus a $0.03 estimate and revenue of $184 million, up 40.9% year over year.
• Analysts remain mixed but generally positive: the stock has a Moderate Buy consensus rating and an average price target of $18.77, while recent targets ranged up to $20.

Temasek Holdings Private Ltd trimmed its position in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,173,385 shares of the company's stock after selling 217,472 shares during the quarter. Temasek Holdings Private Ltd owned approximately 5.09% of Flywire worth $71,858,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FLYW. Global Retirement Partners LLC purchased a new position in Flywire in the fourth quarter valued at $32,000. KBC Group NV purchased a new stake in shares of Flywire during the 1st quarter worth about $38,000. Leonteq Securities AG boosted its stake in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock worth $41,000 after acquiring an additional 2,577 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Flywire by 78.4% during 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. acquired a new stake in shares of Flywire during the 1st quarter valued at about $92,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLYW has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Flywire from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. New Street Research set a $16.00 price objective on Flywire in a research report on Thursday, May 21st. Wall Street Zen downgraded Flywire from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. BTIG Research reiterated a "buy" rating and set a $20.00 target price on shares of Flywire in a research report on Tuesday. Finally, The Goldman Sachs Group increased their target price on Flywire from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.77.

Flywire Trading Down 3.1%

Shares of Flywire stock opened at $17.47 on Wednesday. The firm has a market capitalization of $2.16 billion, a PE ratio of 75.96, a P/E/G ratio of 1.84 and a beta of 1.32. Flywire Corporation has a twelve month low of $10.10 and a twelve month high of $18.98. The firm's 50-day moving average price is $16.47 and its 200 day moving average price is $14.16.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same period in the previous year, the business earned ($0.03) EPS. Flywire's quarterly revenue was up 40.9% on a year-over-year basis. On average, sell-side analysts predict that Flywire Corporation will post 0.28 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Peter Butterfield sold 6,528 shares of the business's stock in a transaction that occurred 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 completion of the sale, the general counsel directly owned 652,152 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, insider Mohit Kansal sold 3,650 shares of the 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 completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 410,391 shares of company stock valued at $6,700,493 in the last three months. Company insiders own 5.00% of the company's stock.

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.

Want to see what other hedge funds are holding FLYW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flywire Corporation (NASDAQ:FLYW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.