Teacher Retirement System of Texas Has $305,000 Holdings in Flywire Corporation (NASDAQ:FLYW)

Teacher Retirement System of Texas lowered its position in Flywire Corporation (NASDAQ:FLYW - Free Report) by 97.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,108 shares of the company's stock after selling 1,149,413 shares during the quarter. Teacher Retirement System of Texas' holdings in Flywire were worth $305,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in shares of Flywire by 38.4% during the 4th quarter. Sei Investments Co. now owns 110,144 shares of the company's stock valued at $2,271,000 after buying an additional 30,572 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Flywire by 571.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 77,708 shares of the company's stock valued at $738,000 after buying an additional 66,133 shares during the last quarter. ABS Direct Equity Fund LLC bought a new stake in shares of Flywire during the 1st quarter valued at about $950,000. Vanguard Group Inc. grew its position in shares of Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock valued at $249,238,000 after buying an additional 781,711 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Flywire during the 4th quarter valued at about $947,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FLYW shares. JPMorgan Chase & Co. reissued an "underweight" rating and set a $9.00 target price (down from $16.00) on shares of Flywire in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Flywire in a research note on Thursday. They set a "hold" rating and a $12.00 target price for the company. B. Riley reduced their target price on shares of Flywire from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Citigroup reduced their price target on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Flywire currently has a consensus rating of "Hold" and an average price target of $14.77.

Flywire Stock Down 3.6%

Shares of FLYW traded down $0.41 during mid-day trading on Friday, hitting $10.84. 2,499,719 shares of the company's stock were exchanged, compared to its average volume of 1,944,719. The firm has a fifty day moving average of $11.10 and a two-hundred day moving average of $12.81. Flywire Corporation has a twelve month low of $8.20 and a twelve month high of $23.40. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 271.00, a P/E/G ratio of 1.35 and a beta of 1.28. 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 posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $128.70 million during the quarter, compared to the consensus estimate of $124.18 million. Flywire had a net margin of 0.97% and a return on equity of 1.57%. Flywire's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. On average, sell-side analysts forecast that Flywire Corporation will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Edwin J. Santos sold 5,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $10.50, for a total value of $52,500.00. Following the completion of the transaction, the director owned 16,990 shares in the company, valued at approximately $178,395. This represents a 22.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by company insiders.

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.